Sit Investment Associates Inc. Sells 6,335 Shares of The Home Depot, Inc. (NYSE:HD)

Sit Investment Associates Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 9.9% in the fourth quarter, Holdings Channel reports. The firm owned 57,501 shares of the home improvement retailer’s stock after selling 6,335 shares during the quarter. Sit Investment Associates Inc.’s holdings in Home Depot were worth $22,367,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth $32,000. Sellwood Investment Partners LLC purchased a new stake in Home Depot during the fourth quarter valued at $39,000. Finally, NewSquare Capital LLC lifted its holdings in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 0.6 %

Shares of Home Depot stock 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 firm has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The business has a 50-day moving average price of $384.89 and a 200-day moving average price of $398.15.

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, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s dividend payout ratio is presently 61.66%.

Home Depot 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.