Bragg Financial Advisors Inc Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Bragg Financial Advisors Inc reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,975 shares of the home improvement retailer’s stock after selling 1,052 shares during the period. Bragg Financial Advisors Inc’s holdings in Home Depot were worth $20,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HD. POM Investment Strategies LLC grew its stake in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after buying an additional 24 shares during the period. Marino Stram & Associates LLC grew its position 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 in the last quarter. Live Oak Private Wealth LLC increased its stake in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC raised its holdings in Home Depot by 4.0% in the 4th 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 in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Truist Financial dropped their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $434.08.

Home Depot Stock Performance

HD stock opened at $353.62 on Friday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a 50-day moving average price of $375.29 and a 200-day moving average price of $395.97. The firm has a market cap of $351.51 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business 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 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) 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.