CIBC Private Wealth Group LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

CIBC Private Wealth Group LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,222,842 shares of the home improvement retailer’s stock after selling 310,246 shares during the quarter. Home Depot accounts for 0.9% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 19th largest position. CIBC Private Wealth Group LLC owned approximately 0.12% of Home Depot worth $473,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Home Depot during the 4th quarter valued at approximately $5,032,910,000. Raymond James Financial Inc. purchased a new position in Home Depot in the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC raised its holdings in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Vanguard Group Inc. boosted its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Finally, Amundi grew its holdings in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

HD opened at $357.86 on Friday. The company has a 50 day moving average of $389.98 and a two-hundred day moving average of $398.80. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. 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 company has a market cap of $355.72 billion, a P/E ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.57%. Home Depot’s payout ratio is 61.66%.

Analysts Set New Price Targets

HD has been the topic of several recent research reports. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Truist Financial dropped their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Robert W. Baird decreased their price objective 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. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

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.