Sunbelt Securities Inc. Grows Stake in The Home Depot, Inc. (NYSE:HD)

Sunbelt Securities Inc. grew its position in The Home Depot, Inc. (NYSE:HD) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,329 shares of the home improvement retailer’s stock after buying an additional 172 shares during the quarter. Sunbelt Securities Inc.’s holdings in Home Depot were worth $2,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Norges Bank purchased a new position in Home Depot during the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. bought a new position in shares of Home Depot during the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC increased its holdings in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Northern Trust Corp raised its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in Home Depot in the fourth quarter worth approximately $471,189,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.3%

Home Depot stock opened at $365.95 on Friday. The stock has a 50-day moving average price of $359.62 and a 200 day moving average price of $387.46. The company has a market capitalization of $363.77 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.63 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. Home Depot’s dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HD shares. Robert W. Baird dropped their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday. Mizuho cut their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an “outperform” rating in a report on Thursday. Finally, Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

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.