Exchange Capital Management Inc. Sells 756 Shares of The Home Depot, Inc. (NYSE:HD)

Exchange Capital Management Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,959 shares of the home improvement retailer’s stock after selling 756 shares during the period. Exchange Capital Management Inc.’s holdings in Home Depot were worth $5,819,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Pensionfund Sabic raised its stake in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Swedbank AB lifted its position in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the period. Wedmont Private Capital raised its stake in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. Johnson & White Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at approximately $1,793,000. Finally, Cerity Partners LLC lifted its stake in shares of Home Depot by 14.3% in the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock valued at $273,055,000 after purchasing an additional 84,062 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $381.12 on Tuesday. The stock has a 50-day simple moving average of $401.53 and a two-hundred day simple moving average of $398.16. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week 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 has a market capitalization of $378.59 billion, a PE ratio of 25.89, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.41%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.14%.

Analysts Set New Price Targets

HD has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Truist Financial raised their price objective on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $433.44.

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.