The Home Depot, Inc. (NYSE:HD) Position Trimmed by Brookstone Capital Management

Brookstone Capital Management trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 21.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,957 shares of the home improvement retailer’s stock after selling 7,221 shares during the period. Brookstone Capital Management’s holdings in Home Depot were worth $8,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Personal Financial Services boosted its stake in Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 43 shares during the period. Fairfield Bush & CO. purchased a new stake in Home Depot in the 1st quarter worth approximately $27,000. Grayhawk Investment Strategies Inc. purchased a new stake in Home Depot in the 2nd quarter worth approximately $28,000. Bellwether Advisors LLC lifted its position in Home Depot by 74.0% in the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 54 shares in the last quarter. Finally, Klaas Financial Asset Advisors LLC purchased a new stake in Home Depot in the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 68.31% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of recent research reports. Robert W. Baird cut their price target on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Tuesday, February 21st. StockNews.com started coverage on shares of Home Depot in a report on Thursday. They issued a “hold” rating on the stock. Citigroup decreased their price target on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Truist Financial decreased their price target on shares of Home Depot from $382.00 to $352.00 in a research report on Wednesday, February 22nd. Finally, Wedbush raised their price target on shares of Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $331.45.

Home Depot Stock Performance

NYSE HD opened at $288.39 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.33 and a debt-to-equity ratio of 26.86. The firm’s fifty day moving average price is $310.70 and its two-hundred day moving average price is $303.66. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25. The firm has a market capitalization of $295.23 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.04. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm had revenue of $35.83 billion for the quarter, compared to analyst estimates of $36 billion. During the same period in the prior year, the firm posted $3.21 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.85 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be given a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This is a positive change from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a dividend yield of 2.90%. Home Depot’s dividend payout ratio is presently 50.12%.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.