Holderness Investments Co. Sells 545 Shares of The Home Depot, Inc. (NYSE:HD)

Holderness Investments Co. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,226 shares of the home improvement retailer’s stock after selling 545 shares during the quarter. Home Depot accounts for 1.5% of Holderness Investments Co.’s investment portfolio, making the stock its 10th largest position. Holderness Investments Co.’s holdings in Home Depot were worth $6,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. HUB Investment Partners LLC increased its stake in Home Depot by 3.1% in the fourth quarter. HUB Investment Partners LLC now owns 16,562 shares of the home improvement retailer’s stock valued at $6,442,000 after purchasing an additional 499 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Home Depot by 3.8% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,855 shares of the home improvement retailer’s stock worth $2,666,000 after buying an additional 250 shares in the last quarter. Symmetry Partners LLC boosted its holdings in Home Depot by 20.4% during the fourth quarter. Symmetry Partners LLC now owns 614 shares of the home improvement retailer’s stock worth $239,000 after buying an additional 104 shares in the last quarter. Teacher Retirement System of Texas raised its position in Home Depot by 22.3% during the fourth quarter. Teacher Retirement System of Texas now owns 375,164 shares of the home improvement retailer’s stock worth $145,935,000 after acquiring an additional 68,491 shares during the last quarter. Finally, First National Bank of Hutchinson raised its position in shares of Home Depot by 13.7% in the fourth quarter. First National Bank of Hutchinson now owns 3,063 shares of the home improvement retailer’s stock valued at $1,191,000 after buying an additional 369 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of Home Depot stock opened at $353.35 on Thursday. The stock’s 50-day simple moving average is $395.36 and its 200-day simple moving average is $399.08. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. 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%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler reduced their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird dropped their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.