Shell Asset Management Co. Sells 902 Shares of The Home Depot, Inc. (NYSE:HD)

Shell Asset Management Co. lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,483 shares of the home improvement retailer’s stock after selling 902 shares during the period. Home Depot makes up approximately 0.6% of Shell Asset Management Co.’s investment portfolio, making the stock its 23rd largest position. Shell Asset Management Co.’s holdings in Home Depot were worth $13,414,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HD. Sherbrooke Park Advisers LLC grew its stake in shares of Home Depot by 400.9% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,486 shares of the home improvement retailer’s stock worth $1,356,000 after buying an additional 2,790 shares during the last quarter. Sig Brokerage LP bought a new stake in shares of Home Depot during the fourth quarter worth $1,030,000. Rafferty Asset Management LLC grew its stake in shares of Home Depot by 14.1% during the fourth quarter. Rafferty Asset Management LLC now owns 113,325 shares of the home improvement retailer’s stock worth $44,082,000 after buying an additional 13,984 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Home Depot during the fourth quarter worth $56,917,000. Finally, Redwood Investment Management LLC grew its stake in shares of Home Depot by 28.2% during the fourth quarter. Redwood Investment Management LLC now owns 2,467 shares of the home improvement retailer’s stock worth $960,000 after buying an additional 543 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HD shares. Piper Sandler reduced 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, March 24th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Truist Financial upped their price target on shares of Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.32.

Home Depot Stock Performance

Home Depot stock opened at $379.13 on Friday. The firm’s fifty day moving average price is $357.87 and its 200-day moving average price is $388.12. 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 stock has a market cap of $376.87 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during 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 posted $2.82 earnings per share. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders 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 2.43%. Home Depot’s payout ratio 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.