Haverford Trust Co Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Haverford Trust Co cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,282 shares of the home improvement retailer’s stock after selling 1,006 shares during the quarter. Haverford Trust Co’s holdings in Home Depot were worth $43,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $32,000. NewSquare Capital LLC lifted its holdings in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Home Depot during the 3rd quarter worth $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent research reports. Truist Financial reduced their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Nine investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

HD stock opened at $352.12 on Monday. The company has a 50-day simple moving average of $393.97 and a 200 day simple moving average of $399.14. 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 company has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09. 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 analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during 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 company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.82 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share 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 dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. 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.