Dearborn Partners LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Dearborn Partners LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,327 shares of the home improvement retailer’s stock after selling 217 shares during the quarter. Home Depot comprises approximately 2.1% of Dearborn Partners LLC’s portfolio, making the stock its 5th biggest position. Dearborn Partners LLC’s holdings in Home Depot were worth $51,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of HD. Riverbend Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $944,000. Davis R M Inc. increased its holdings in shares of Home Depot by 0.4% in the 4th quarter. Davis R M Inc. now owns 151,002 shares of the home improvement retailer’s stock worth $58,738,000 after purchasing an additional 586 shares in the last quarter. Clare Market Investments LLC purchased a new position in shares of Home Depot in the fourth quarter worth $472,000. Vista Investment Partners II LLC bought a new position in shares of Home Depot during the fourth quarter valued at $2,679,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Home Depot by 1.7% during the fourth quarter. Tortoise Investment Management LLC now owns 3,697 shares of the home improvement retailer’s stock valued at $1,438,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.7 %

HD opened at $374.13 on Tuesday. The stock has a market cap of $371.65 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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’s fifty day moving average is $399.91 and its 200 day moving average is $400.08. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for 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 business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.82 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared 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 2.46%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HD. 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 report on Wednesday, February 26th. Mizuho lifted their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price 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.