Cynosure Group LLC Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cynosure Group LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 39.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 565 shares of the home improvement retailer’s stock after selling 365 shares during the quarter. Cynosure Group LLC’s holdings in Home Depot were worth $220,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Synergy Asset Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter worth $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the 4th quarter worth $39,000. Finally, NewSquare Capital LLC increased its stake in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HD shares. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Down 0.6 %

NYSE:HD opened at $353.78 on Friday. The firm has a market capitalization of $351.67 billion, a P/E ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The company’s fifty day moving average price is $384.89 and its 200-day moving average price is $398.15. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. 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 quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the business posted $2.82 EPS. The company’s revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

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.