Cascades Capital Asset Management LLC Has $1.82 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Cascades Capital Asset Management LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,685 shares of the home improvement retailer’s stock after selling 101 shares during the quarter. Home Depot makes up about 1.0% of Cascades Capital Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Cascades Capital Asset Management LLC’s holdings in Home Depot were worth $1,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HD. Synergy Asset Management LLC acquired a new stake in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at about $32,000. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC increased its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Down 0.6 %

Shares of NYSE:HD opened at $353.78 on Friday. The company has a 50 day moving average of $384.89 and a 200-day moving average of $398.15. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The stock has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HD shares. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

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.