SouthState Corp Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

SouthState Corp decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,547 shares of the home improvement retailer’s stock after selling 411 shares during the quarter. Home Depot comprises approximately 1.4% of SouthState Corp’s holdings, making the stock its 17th biggest holding. SouthState Corp’s holdings in Home Depot were worth $21,996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. POM Investment Strategies LLC lifted its position in shares of Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its stake in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares during the period. Insight Inv LLC raised its stake in Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares during the period. Marino Stram & Associates LLC raised its stake in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC raised its stake in Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 1.1 %

Shares of NYSE:HD opened at $351.16 on Monday. The stock has a market capitalization of $348.83 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. 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 company has a 50 day moving average price of $397.43 and a 200 day moving average price of $399.63.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the business posted $2.82 EPS. The company’s revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate 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 will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.62%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler dropped their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Company Profile

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.