Simmons Bank Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Simmons Bank trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,453 shares of the home improvement retailer’s stock after selling 294 shares during the period. Home Depot makes up about 0.8% of Simmons Bank’s investment portfolio, making the stock its 24th largest holding. Simmons Bank’s holdings in Home Depot were worth $11,457,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC lifted its stake in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares during the period. Center for Financial Planning Inc. grew its stake in shares of Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares during the period. Insight Inv LLC increased its holdings in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares during the last quarter. Marino Stram & Associates LLC lifted its stake in Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after buying an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC lifted its stake in Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial upped their price target on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays upped their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Thursday, February 20th. Stifel Nicolaus boosted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $437.12.

Home Depot Stock Performance

Shares of HD stock opened at $393.52 on Wednesday. The company has a market capitalization of $390.90 billion, a P/E ratio of 26.73, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a 50 day moving average price of $401.23 and a two-hundred day moving average price of $398.48.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.34%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.14%.

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.