Strategic Financial Services Inc. Sells 50 Shares of The Home Depot, Inc. (NYSE:HD)

Strategic Financial Services Inc. cut its stake in The Home Depot, Inc. (NYSE:HD) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,352 shares of the home improvement retailer’s stock after selling 50 shares during the quarter. Strategic Financial Services Inc.’s holdings in Home Depot were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SYM FINANCIAL Corp grew its position in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after buying an additional 289 shares during the period. Swedbank AB grew its holdings in Home Depot by 17.1% in the third 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. Principal Financial Group Inc. increased its stake in shares of Home Depot by 10.7% during the third 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 lifted its holdings in shares of Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after purchasing an additional 181 shares during the last quarter. Finally, New Millennium Group LLC boosted its position in shares of Home Depot by 634.2% in the 3rd quarter. New Millennium Group LLC now owns 2,342 shares of the home improvement retailer’s stock worth $949,000 after purchasing an additional 2,023 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Up 1.1 %

NYSE:HD opened at $353.35 on Thursday. 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 50-day simple moving average of $395.36 and a 200-day simple moving average of $399.08. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $351.01 billion, a P/E ratio of 24.00, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 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.