Peloton Wealth Strategists Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Peloton Wealth Strategists lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 39.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,734 shares of the home improvement retailer’s stock after selling 3,061 shares during the period. Peloton Wealth Strategists’ holdings in Home Depot were worth $1,841,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HD. POM Investment Strategies LLC raised its stake in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after acquiring an additional 24 shares in the last quarter. Insight Inv LLC raised its stake in shares of Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares in the last quarter. Marino Stram & Associates LLC raised its stake in Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after buying an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC raised its stake in Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Bank of America raised their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Down 0.0 %

HD stock opened at $390.44 on Friday. The stock has a market capitalization of $387.85 billion, a P/E ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a 50 day moving average price of $401.27 and a two-hundred day moving average price of $398.37.

Home Depot (NYSE:HD) last released its 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 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 previous year, the company earned $2.82 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. 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.