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

Clark Capital Management Group Inc. cut its stake in The Home Depot, Inc. (NYSE:HD) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,920 shares of the home improvement retailer’s stock after selling 66 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Home Depot were worth $3,859,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wealth Group Ltd. grew its stake in Home Depot by 5.0% during 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. Fortitude Family Office LLC raised its position in shares of Home Depot by 40.6% in the 4th quarter. Fortitude Family Office LLC now owns 7,814 shares of the home improvement retailer’s stock valued at $3,040,000 after purchasing an additional 2,257 shares during the last quarter. CJM Wealth Advisers Ltd. grew its position in Home Depot by 4.8% during the 4th quarter. CJM Wealth Advisers Ltd. now owns 1,605 shares of the home improvement retailer’s stock worth $624,000 after purchasing an additional 74 shares during the last quarter. ORG Partners LLC increased its stake in Home Depot by 5.4% during the 4th quarter. ORG Partners LLC now owns 5,012 shares of the home improvement retailer’s stock valued at $1,956,000 after purchasing an additional 259 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its holdings in shares of Home Depot by 0.4% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 24,122 shares of the home improvement retailer’s stock worth $9,383,000 after buying an additional 95 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HD. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday. Truist Financial lifted their price objective on shares of Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a research note on Tuesday. Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $430.32.

Home Depot Price Performance

NYSE:HD opened at $362.55 on Friday. The firm has a market cap of $360.39 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock has a 50 day moving average of $358.23 and a two-hundred day moving average of $388.83. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month 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.

Home Depot (NYSE:HD) last issued 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 firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations 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 business earned $2.82 earnings per share. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.