Cape Investment Advisory Inc. Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Cape Investment Advisory Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 4.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,187 shares of the home improvement retailer’s stock after selling 104 shares during the period. Cape Investment Advisory Inc.’s holdings in Home Depot were worth $851,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC boosted its stake in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Home Depot in the 3rd quarter worth approximately $336,231,000. FMR LLC boosted its position in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Home Depot by 295.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after purchasing an additional 518,054 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in shares of Home Depot by 37,025.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock worth $187,019,000 after buying an additional 479,485 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.6 %

NYSE:HD opened at $396.69 on Friday. The company has a market capitalization of $394.06 billion, a PE ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock’s 50 day moving average price is $401.36 and its 200 day moving average price is $399.06. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.32%. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HD. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Company Profile

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.