Arvest Bank Trust Division Sells 657 Shares of The Home Depot, Inc. (NYSE:HD)

Arvest Bank Trust Division decreased its position in The Home Depot, Inc. (NYSE:HD) by 31.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,415 shares of the home improvement retailer’s stock after selling 657 shares during the quarter. Arvest Bank Trust Division’s holdings in Home Depot were worth $550,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. K.J. Harrison & Partners Inc raised its stake in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Pensionfund Sabic boosted its stake in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Disciplined Investors L.L.C. bought a new position in shares of Home Depot in the fourth quarter valued at about $409,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 2.2 %

Shares of HD stock opened at $346.23 on Thursday. The stock has a market cap of $344.16 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a 50 day simple moving average of $371.71 and a 200 day simple moving average of $395.04. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. JPMorgan Chase & Co. upped their price target on 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 raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price target 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. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Company 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.