SP Asset Management LLC Has $17.71 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

SP Asset Management LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,521 shares of the home improvement retailer’s stock after selling 441 shares during the period. Home Depot makes up approximately 1.5% of SP Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. SP Asset Management LLC’s holdings in Home Depot were worth $17,707,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares in the last quarter. Pensionfund Sabic increased its holdings 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 worth $4,357,000 after buying an additional 3,800 shares in the last quarter. Swedbank AB increased its holdings in shares of Home Depot by 17.1% during 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 increased its holdings in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial decreased their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Mizuho increased their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Evercore ISI increased their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

HD stock opened at $386.82 on Thursday. 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 1 year low of $323.77 and a 1 year high of $439.37. The stock has a market capitalization of $384.25 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company’s 50-day moving average is $400.81 and its 200-day moving average is $399.62.

Home Depot (NYSE:HD) last released 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. The company 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%. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $2.82 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.38%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.