Belpointe Asset Management LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Belpointe Asset Management LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 16.0% in the 4th quarter, Holdings Channel reports. The fund owned 12,289 shares of the home improvement retailer’s stock after selling 2,347 shares during the quarter. Belpointe Asset Management LLC’s holdings in Home Depot were worth $4,529,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares during the period. Morse Asset Management Inc lifted its stake in Home Depot by 12.9% in the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after acquiring an additional 3,493 shares during the last quarter. Invst LLC grew its holdings in Home Depot by 1.7% during the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer’s stock worth $2,719,000 after acquiring an additional 115 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Home Depot by 4.5% in the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer’s stock valued at $1,089,000 after purchasing an additional 115 shares during the last quarter. Finally, Tudor Financial Inc. acquired a new stake in shares of Home Depot in the 3rd quarter valued at $1,027,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HD shares. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Truist Financial cut their price target on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Price Performance

Shares of Home Depot stock opened at $353.62 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a fifty day simple moving average of $375.29 and a 200-day simple moving average of $395.97. The stock has a market capitalization of $351.51 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s payout ratio is currently 61.66%.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.