The Home Depot, Inc. (NYSE:HD) Holdings Cut by SouthState Corp

SouthState Corp decreased its stake in The Home Depot, Inc. (NYSE:HD) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,547 shares of the home improvement retailer’s stock after selling 411 shares during the quarter. Home Depot makes up about 1.4% of SouthState Corp’s holdings, making the stock its 17th biggest position. SouthState Corp’s holdings in Home Depot were worth $21,996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. K.J. Harrison & Partners Inc raised its holdings in shares of Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Pensionfund Sabic raised its holdings in shares of Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB raised its holdings in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HD shares. Royal Bank of Canada cut their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Truist Financial dropped their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

Shares of Home Depot stock opened at $351.16 on Monday. The firm has a market cap of $348.83 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 firm’s 50-day simple moving average is $397.43 and its 200-day simple moving average is $399.63.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.62%. Home Depot’s payout ratio is 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.