EFG Asset Management North America Corp. Reduces Stake in The Home Depot, Inc. (NYSE:HD)

EFG Asset Management North America Corp. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,443 shares of the home improvement retailer’s stock after selling 497 shares during the period. EFG Asset Management North America Corp.’s holdings in Home Depot were worth $5,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. SYM FINANCIAL Corp lifted its stake in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the last quarter. Principal Financial Group Inc. raised its position in 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 purchasing an additional 141,915 shares during the last quarter. United Bank boosted its stake in Home Depot by 4.2% during the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares during the period. Algert Global LLC acquired a new position in Home Depot in the third quarter valued at $649,000. Finally, Centaurus Financial Inc. raised its holdings in shares of Home Depot by 0.8% in the third quarter. Centaurus Financial Inc. now owns 4,453 shares of the home improvement retailer’s stock valued at $1,805,000 after buying an additional 35 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE HD opened at $363.97 on Tuesday. 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 company’s 50-day moving average price is $393.46 and its 200 day moving average price is $399.16. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $361.55 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating 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 business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the business earned $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $435.85.

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.