Stevens Capital Management LP Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Stevens Capital Management LP decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 84.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 997 shares of the home improvement retailer’s stock after selling 5,478 shares during the quarter. Stevens Capital Management LP’s holdings in Home Depot were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC raised its stake in 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 worth $824,000 after acquiring an additional 24 shares during the period. Center for Financial Planning Inc. raised its stake in Home Depot by 0.5% during 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 during the period. Insight Inv LLC raised its stake in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares during the period. 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. Finally, 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. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Robert W. Baird reduced their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

HD stock opened at $352.12 on Monday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a 50-day moving average price of $393.97 and a 200 day moving average price of $399.14. The company has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

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 the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during 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 quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.