The Home Depot, Inc. (NYSE:HD) Position Lessened by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,181 shares of the home improvement retailer’s stock after selling 1,181 shares during the period. Axxcess Wealth Management LLC’s holdings in Home Depot were worth $18,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SYM FINANCIAL Corp raised its holdings in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Swedbank AB raised its holdings in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after purchasing an additional 141,915 shares during the period. United Bank increased its stake in shares of Home Depot by 4.2% in the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Home Depot by 2.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 7,405 shares of the home improvement retailer’s stock worth $3,001,000 after purchasing an additional 200 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HD shares. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler dropped their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. 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. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Up 0.8 %

Shares of HD opened at $354.06 on Tuesday. The company has a market capitalization of $351.71 billion, a P/E ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The business’s 50 day simple moving average is $396.73 and its 200-day simple moving average is $399.54.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 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.