Principal Street Partners LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Principal Street Partners LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,845 shares of the home improvement retailer’s stock after selling 1,268 shares during the quarter. Home Depot comprises about 1.3% of Principal Street Partners LLC’s portfolio, making the stock its 23rd largest holding. Principal Street Partners LLC’s holdings in Home Depot were worth $6,552,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. POM Investment Strategies LLC increased its position in shares of Home Depot by 1.1% during 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 last quarter. Center for Financial Planning Inc. boosted its stake in 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 buying an additional 24 shares during the period. Marino Stram & Associates LLC boosted its stake in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the period. Live Oak Private Wealth LLC increased its position in Home Depot by 0.5% during 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 acquiring an additional 25 shares during the last quarter. Finally, Mezzasalma Advisors LLC raised its stake in shares of Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock valued at $255,000 after acquiring an additional 25 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Home Depot stock opened at $379.03 on Tuesday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a market capitalization of $376.77 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s fifty day moving average price is $358.40 and its 200 day moving average price is $387.85.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.60 by ($0.04). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. During the same quarter last year, the company posted $3.63 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HD. JPMorgan Chase & Co. dropped their price target on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Morgan Stanley lowered their price target on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $430.32.

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.