Capital Group Investment Management PTE. LTD. Sells 2,279 Shares of The Home Depot, Inc. (NYSE:HD)

Capital Group Investment Management PTE. LTD. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,299 shares of the home improvement retailer’s stock after selling 2,279 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Home Depot were worth $3,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. K.J. Harrison & Partners Inc boosted its holdings in Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares during the last quarter. Pensionfund Sabic raised its stake in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Wedmont Private Capital lifted its stake in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Disciplined Investors L.L.C. bought a new stake in shares of Home Depot in the 4th quarter valued at about $409,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.6 %

HD opened at $354.85 on Friday. The firm has a 50-day simple moving average of $370.53 and a two-hundred day simple moving average of $394.69. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $352.73 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results 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 return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HD. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler decreased their target price 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. Royal Bank of Canada decreased their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Ten research 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. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $434.08.

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.