Scott & Selber Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Scott & Selber Inc. decreased its position in The Home Depot, Inc. (NYSE:HD) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,426 shares of the home improvement retailer’s stock after selling 405 shares during the period. Home Depot comprises approximately 1.8% of Scott & Selber Inc.’s investment portfolio, making the stock its 11th biggest holding. Scott & Selber Inc.’s holdings in Home Depot were worth $6,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its stake in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after acquiring an additional 3,590 shares during the period. Pensionfund Sabic boosted its holdings in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Swedbank AB boosted 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 valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Wedmont Private Capital grew its position in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at about $1,793,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 1.9 %

NYSE HD opened at $389.03 on Tuesday. The business’s fifty day simple moving average is $401.29 and its 200-day simple moving average is $399.57. 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 firm has a market cap of $386.45 billion, a PE ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

Several research firms recently commented on HD. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Barclays raised their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI lifted their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Truist Financial cut their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.