KCM Investment Advisors LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

KCM Investment Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,489 shares of the home improvement retailer’s stock after selling 192 shares during the quarter. Home Depot accounts for 1.8% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. KCM Investment Advisors LLC’s holdings in Home Depot were worth $50,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after purchasing an additional 141,915 shares in the last quarter. United Bank grew its holdings in Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after acquiring an additional 181 shares during the period. Morse Asset Management Inc raised its position in Home Depot by 12.9% in the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after acquiring an additional 3,493 shares in the last quarter. Temasek Holdings Private Ltd lifted its holdings in Home Depot by 24.2% in the third quarter. Temasek Holdings Private Ltd now owns 114,449 shares of the home improvement retailer’s stock valued at $46,375,000 after acquiring an additional 22,320 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Home Depot during the 3rd quarter worth $30,714,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird decreased their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Price Performance

Shares of NYSE HD opened at $353.78 on Friday. 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 Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The business has a 50 day moving average price of $384.89 and a two-hundred day moving average price of $398.15. The firm has a market cap of $351.67 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 earnings per share. Sell-side 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 paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend 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.