The Home Depot, Inc. (NYSE:HD) Holdings Cut by Meridian Wealth Management LLC

Meridian Wealth Management LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,010 shares of the home improvement retailer’s stock after selling 974 shares during the period. Home Depot comprises about 0.6% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Meridian Wealth Management LLC’s holdings in Home Depot were worth $13,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. SYM FINANCIAL Corp raised its position in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares in the last quarter. Wealth Group Ltd. bought a new stake in Home Depot in the third quarter worth approximately $217,000. Swedbank AB increased its stake in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Home Depot by 10.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,476 shares of the home improvement retailer’s stock valued at $598,000 after purchasing an additional 135 shares in the last quarter. Finally, Fonville Wealth Management LLC acquired a new stake in shares of Home Depot in the 3rd quarter valued at $259,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD opened at $396.69 on Monday. The stock’s 50 day simple moving average is $401.36 and its 200-day simple moving average is $399.37. 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 stock has a market cap of $394.06 billion, a PE ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly 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 for the quarter, compared to analyst estimates of $39.15 billion. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HD. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Barclays upped their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Truist Financial cut their price objective 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. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Piper Sandler lowered their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.