The Home Depot, Inc. (NYSE:HD) Shares Sold by Accredited Investors Inc.

Accredited Investors Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,445 shares of the home improvement retailer’s stock after selling 61 shares during the quarter. Accredited Investors Inc.’s holdings in Home Depot were worth $1,729,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the fourth quarter valued at about $32,000. Marshall Investment Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $41,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Home Depot during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 5.7 %

Shares of Home Depot stock opened at $354.24 on Thursday. 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 stock has a market capitalization of $352.13 billion, a P/E ratio of 24.07, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock’s 50-day simple moving average is $377.57 and its 200 day simple moving average is $396.60.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm 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 quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Truist Financial cut their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $434.08.

Home Depot 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.