Sowell Financial Services LLC Trims Holdings in The Home Depot, Inc. (NYSE:HD)

Sowell Financial Services LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 14.6% in the fourth quarter, HoldingsChannel reports. The fund owned 13,517 shares of the home improvement retailer’s stock after selling 2,302 shares during the quarter. Sowell Financial Services LLC’s holdings in Home Depot were worth $5,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HD. K.J. Harrison & Partners Inc boosted its stake in shares of 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 valued at $3,535,000 after buying an additional 3,590 shares during the last quarter. Pensionfund Sabic boosted its position in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB boosted its position in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Wedmont Private Capital boosted its position in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter worth about $1,793,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on HD shares. Piper Sandler decreased their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Down 1.3 %

Shares of NYSE HD opened at $376.66 on Friday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. 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 firm has a market capitalization of $374.16 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.03 and a beta of 1.09. The business has a 50-day moving average of $400.21 and a 200-day moving average of $399.81.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.44%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. 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.