Pacific Global Investment Management Co. Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Pacific Global Investment Management Co. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 95.9% during the 4th quarter, HoldingsChannel reports. The fund owned 890 shares of the home improvement retailer’s stock after selling 20,670 shares during the period. Pacific Global Investment Management Co.’s holdings in Home Depot were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in HD. K.J. Harrison & Partners Inc lifted its holdings in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Pensionfund Sabic increased its position in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after buying an additional 3,800 shares during the period. Swedbank AB lifted its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter valued at approximately $1,793,000. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Evercore ISI lifted their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial decreased their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

Shares of Home Depot stock opened at $396.69 on Monday. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The business’s 50 day simple moving average is $401.36 and its two-hundred day simple moving average is $399.37. The stock has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its 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. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 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.