Wedge Capital Management L L P NC Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Wedge Capital Management L L P NC lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 65.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 588 shares of the home improvement retailer’s stock after selling 1,136 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Home Depot were worth $204,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Keener Financial Planning LLC acquired a new position in Home Depot in the fourth quarter valued at $31,000. PFG Private Wealth Management LLC boosted its position in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Gilfoyle & Co LLC purchased a new position in Home Depot during the 4th quarter worth approximately $35,000. Briaud Financial Planning Inc acquired a new position in Home Depot during the third quarter worth approximately $41,000. Finally, Quantbot Technologies LP purchased a new stake in Home Depot in the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HD. DA Davidson restated a “neutral” rating and set a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. Truist Financial reiterated a “buy” rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Telsey Advisory Group lifted their price objective on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research note on Monday, April 1st. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, Guggenheim reissued a “buy” rating and set a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Trading Up 0.9 %

Shares of HD stock opened at $335.01 on Friday. The stock has a market cap of $332.00 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The business has a fifty day simple moving average of $364.77 and a 200-day simple moving average of $340.68.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s payout ratio is 59.60%.

Insider Buying and Selling

In other news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.