The Home Depot, Inc. (NYSE:HD) Stake Lessened by Pathstone Holdings LLC

Pathstone Holdings LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 6.2% during the 4th quarter, HoldingsChannel reports. The fund owned 178,829 shares of the home improvement retailer’s stock after selling 11,897 shares during the period. Pathstone Holdings LLC’s holdings in Home Depot were worth $69,599,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HD. Wealth Group Ltd. lifted its position in shares of Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after buying an additional 27 shares during the last quarter. RMR Wealth Builders grew its position in shares of Home Depot by 2.2% during the 4th quarter. RMR Wealth Builders now owns 11,429 shares of the home improvement retailer’s stock valued at $4,446,000 after buying an additional 246 shares during the last quarter. Abound Wealth Management raised its stake in Home Depot by 10.4% during the fourth quarter. Abound Wealth Management now owns 617 shares of the home improvement retailer’s stock worth $240,000 after acquiring an additional 58 shares during the period. Persium Advisors LLC bought a new position in Home Depot in the fourth quarter worth about $2,477,000. Finally, Heritage Wealth Partners LLC boosted its stake in Home Depot by 4.2% in the fourth quarter. Heritage Wealth Partners LLC now owns 725 shares of the home improvement retailer’s stock valued at $282,000 after acquiring an additional 29 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial increased their price objective on shares of Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Stock Performance

HD opened at $373.66 on Wednesday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a market capitalization of $371.43 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business has a 50 day moving average price of $357.86 and a two-hundred day moving average price of $388.40. 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 announced 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. 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 in the prior year, the firm posted $2.82 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.46%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 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.