Logan Capital Management Inc. Sells 1,572 Shares of The Home Depot, Inc. (NYSE:HD)

Logan Capital Management Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 51,639 shares of the home improvement retailer’s stock after selling 1,572 shares during the quarter. Home Depot makes up approximately 0.8% of Logan Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Logan Capital Management Inc.’s holdings in Home Depot were worth $20,087,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. LifePlan Investment Advisors Inc. boosted its position in Home Depot by 7.0% during the 4th quarter. LifePlan Investment Advisors Inc. now owns 905 shares of the home improvement retailer’s stock valued at $352,000 after acquiring an additional 59 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $2,549,000. Lionshead Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth $909,000. Investor s Fiduciary Advisor Network LLC acquired a new stake in Home Depot during the 4th quarter worth about $1,361,000. Finally, Janus Henderson Group PLC grew its stake in Home Depot by 1.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,941,275 shares of the home improvement retailer’s stock valued at $755,296,000 after purchasing an additional 32,515 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on HD shares. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial upped their price target on shares of Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $430.32.

Home Depot Price Performance

HD stock opened at $362.55 on Monday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $360.39 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business has a fifty day moving average of $358.23 and a two-hundred day moving average of $388.66.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the firm posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share 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 issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

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.