Mmbg Investment Advisors CO. Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Mmbg Investment Advisors CO. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 16.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,645 shares of the home improvement retailer’s stock after selling 930 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in Home Depot were worth $1,807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HD. Synergy Asset Management LLC purchased a new position in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the fourth quarter worth approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $32,000. Finally, Quarry LP grew its stake in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.6%

Home Depot stock opened at $362.55 on Monday. 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 firm has a market capitalization of $360.39 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a 50 day moving average of $358.23 and a 200 day moving average of $388.66.

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

Home Depot Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Morgan Stanley cut their price objective on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a report 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, Piper Sandler lowered their price objective 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. Ten equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $430.32.

Home Depot 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.