The Home Depot, Inc. (NYSE:HD) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,723 shares of the home improvement retailer’s stock after selling 102 shares during the quarter. Pitcairn Co.’s holdings in Home Depot were worth $4,171,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SYM FINANCIAL Corp raised its stake 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 valued at $777,000 after purchasing an additional 289 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 valued at $596,140,000 after purchasing an additional 141,915 shares during the period. United Bank increased its position in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after acquiring an additional 181 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Home Depot during the third quarter valued at $76,000. Finally, Motley Fool Asset Management LLC raised its stake in shares of Home Depot by 4.3% during the third quarter. Motley Fool Asset Management LLC now owns 46,378 shares of the home improvement retailer’s stock valued at $18,971,000 after purchasing an additional 1,923 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.6 %

HD opened at $371.25 on Thursday. The company has a market capitalization of $369.03 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. 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 fifty-two week low of $323.77 and a fifty-two week high of $439.37. The business has a 50-day moving average of $387.28 and a 200-day moving average of $398.64.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.82 earnings per share. Equities research analysts forecast 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 was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HD. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial decreased their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped 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 research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $435.85.

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.