Canal Capital Management LLC Sells 136 Shares of The Home Depot, Inc. (NYSE:HD)

Canal Capital Management LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,404 shares of the home improvement retailer’s stock after selling 136 shares during the quarter. Home Depot makes up approximately 1.0% of Canal Capital Management LLC’s holdings, making the stock its 28th biggest holding. Canal Capital Management LLC’s holdings in Home Depot were worth $6,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the last quarter. Morse Asset Management Inc grew its stake in shares of Home Depot by 12.9% during the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after purchasing an additional 3,493 shares during the period. Invst LLC increased its holdings in Home Depot by 1.7% in the third quarter. Invst LLC now owns 6,710 shares of the home improvement retailer’s stock valued at $2,719,000 after purchasing an additional 115 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of Home Depot by 4.5% in the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer’s stock valued at $1,089,000 after acquiring an additional 115 shares during the period. Finally, Tudor Financial Inc. bought a new position in Home Depot during the 3rd quarter worth approximately $1,027,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Truist Financial dropped their price target on Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Price Performance

Shares of HD opened at $354.85 on Monday. The firm has a market cap of $352.73 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The business’s 50 day moving average price is $369.30 and its two-hundred day moving average price is $394.08. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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, beating the consensus estimate of $3.04 by $0.09. The business 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 business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.59%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

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.