Clark Capital Management Group Inc. Cuts Position in The Home Depot, Inc. (NYSE:HD)

Clark Capital Management Group Inc. trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,920 shares of the home improvement retailer’s stock after selling 66 shares during the period. Clark Capital Management Group Inc.’s holdings in Home Depot were worth $3,859,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot during the fourth quarter valued at $5,032,910,000. Capital Research Global Investors boosted its position in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Down 0.6 %

Shares of NYSE HD opened at $362.55 on Friday. 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 company has a market cap of $360.39 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 4.03 and a beta of 1.05. The business’s 50 day moving average price is $358.23 and its 200-day moving average price is $388.83.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 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 the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. On average, sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. Home Depot’s payout ratio is 61.66%.

Analysts Set New Price Targets

Several research firms have issued reports on HD. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Truist Financial upped their price objective on Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $430.32.

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.