Cornerstone Capital Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Cornerstone Capital Inc. decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 47,929 shares of the home improvement retailer’s stock after selling 8,102 shares during the quarter. Home Depot comprises about 2.0% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 19th biggest holding. Cornerstone Capital Inc.’s holdings in Home Depot were worth $18,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $32,000. Marshall Investment Management LLC bought a new stake in Home Depot in the 4th quarter worth $41,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $39,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Truist Financial lowered their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Stock Up 2.6 %

Home Depot stock opened at $354.85 on Friday. The stock has a market cap of $352.73 billion, a PE ratio of 24.11, a P/E/G 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. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock’s fifty day moving average is $369.30 and its two-hundred day moving average is $394.32.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the business earned $2.82 EPS. Home Depot’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 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. 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%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.