First Heartland Consultants Inc. Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

First Heartland Consultants Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,476 shares of the home improvement retailer’s stock after selling 415 shares during the period. First Heartland Consultants Inc.’s holdings in Home Depot were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC lifted its position in shares of Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares in the last quarter. Marino Stram & Associates LLC raised its stake in Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares during the period. Live Oak Private Wealth LLC raised 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 lifted its holdings in Home Depot by 4.0% during the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock valued at $255,000 after purchasing an additional 25 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. DA Davidson dropped their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday. Piper Sandler cut their price target 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. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $427.92.

Home Depot Stock Performance

Shares of NYSE:HD opened at $370.71 on Thursday. The firm has a fifty day simple moving average of $359.38 and a two-hundred day simple moving average of $387.66. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $368.50 billion, a P/E ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the prior year, the business posted $3.63 EPS. The company’s revenue was up 9.4% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 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.