1ST Source Bank Sells 813 Shares of The Home Depot, Inc. (NYSE:HD)

1ST Source Bank reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,765 shares of the home improvement retailer’s stock after selling 813 shares during the period. 1ST Source Bank’s holdings in Home Depot were worth $8,855,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Home Depot by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after purchasing an additional 433,126 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares in the last quarter. FMR LLC grew its position in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock worth $3,253,952,000 after acquiring an additional 409,890 shares in the last quarter. Finally, Amundi grew its position in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after acquiring an additional 599,490 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $351.16 on Monday. 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 one year low of $323.77 and a one year high of $439.37. The company has a 50-day simple moving average of $397.43 and a two-hundred day simple moving average of $399.63. The firm has a market capitalization of $348.83 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is 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 2.62%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. 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. Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average 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.