Texas Capital Bancshares Inc TX Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Texas Capital Bancshares Inc TX trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,517 shares of the home improvement retailer’s stock after selling 51 shares during the period. Home Depot comprises 0.7% of Texas Capital Bancshares Inc TX’s investment portfolio, making the stock its 15th largest position. Texas Capital Bancshares Inc TX’s holdings in Home Depot were worth $1,757,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $32,000. Marshall Investment Management LLC purchased a new stake in Home Depot during the 4th quarter valued at $41,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $39,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HD. Truist Financial reduced their target price on Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research note on Tuesday. 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 research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

Home Depot Price Performance

NYSE HD opened at $353.38 on Friday. The firm’s fifty day simple moving average is $376.45 and its two-hundred day simple moving average is $396.27. The firm has a market capitalization of $351.27 billion, a P/E ratio of 24.01, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

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, beating 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 net margin of 9.45% and a return on equity of 452.60%. The company’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 company posted $2.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s payout ratio 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.