Wellspring Financial Advisors LLC Sells 178 Shares of The Home Depot, Inc. (NYSE:HD)

Wellspring Financial Advisors LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,047 shares of the home improvement retailer’s stock after selling 178 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Home Depot were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth $32,000. Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $39,000. Finally, NewSquare Capital LLC boosted its stake in Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday. Finally, Truist Financial reduced their target price 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. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Down 0.6 %

Shares of HD stock opened at $353.78 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The stock has a market capitalization of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. The firm’s 50 day moving average is $384.89 and its 200 day moving average is $398.35.

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 return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. Research analysts expect 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 was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 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.