GeoWealth Management LLC Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

GeoWealth Management LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,718 shares of the home improvement retailer’s stock after selling 261 shares during the period. GeoWealth Management LLC’s holdings in Home Depot were worth $1,835,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HD. K.J. Harrison & Partners Inc boosted its stake in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Pensionfund Sabic boosted its stake in shares of Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Disciplined Investors L.L.C. acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $409,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on HD shares. Robert W. Baird lowered their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $434.08.

Home Depot Stock Performance

Shares of HD stock opened at $354.85 on Friday. 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 Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The stock’s fifty day simple moving average is $369.30 and its 200-day simple moving average is $394.32. The company has a market capitalization of $352.73 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. 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 2.59%. Home Depot’s payout ratio is 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.