Commerce Bank Sells 7,520 Shares of The Home Depot, Inc. (NYSE:HD)

Commerce Bank decreased its position in The Home Depot, Inc. (NYSE:HD) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 227,079 shares of the home improvement retailer’s stock after selling 7,520 shares during the quarter. Commerce Bank’s holdings in Home Depot were worth $88,331,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Vanguard Group Inc. raised its stake in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after buying an additional 257,036 shares in the last quarter. Norges Bank bought a new position in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC grew its position in Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after acquiring an additional 125,441 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Home Depot by 5.5% during the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock worth $3,521,173,000 after acquiring an additional 468,203 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Ten 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 company. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

Home Depot Stock Performance

HD stock opened at $354.85 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $352.73 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a 50-day simple moving average of $370.53 and a two-hundred day simple moving average of $394.69.

Home Depot (NYSE:HD) last posted 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.59%. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Home Depot 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.