Greenwood Gearhart Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Greenwood Gearhart Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 82.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,259 shares of the home improvement retailer’s stock after selling 30,321 shares during the period. Greenwood Gearhart Inc.’s holdings in Home Depot were worth $2,435,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HD shares. Royal Bank of Canada reduced their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Truist Financial decreased their price objective on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Gordon Haskett lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company boosted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Ten investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Stock Down 1.0 %

Shares of HD opened at $353.61 on Wednesday. The stock’s 50-day moving average price is $372.94 and its 200-day moving average price is $395.38. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $351.50 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 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (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 firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the business posted $2.82 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

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