Arrowroot Family Office LLC Sells 196 Shares of The Home Depot, Inc. (NYSE:HD)

Arrowroot Family Office LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 801 shares of the home improvement retailer’s stock after selling 196 shares during the period. Arrowroot Family Office LLC’s holdings in Home Depot were worth $312,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares during the period. Versant Capital Management Inc raised its stake in Home Depot by 7.5% in the 4th quarter. Versant Capital Management Inc now owns 6,547 shares of the home improvement retailer’s stock worth $2,547,000 after purchasing an additional 457 shares in the last quarter. GAMMA Investing LLC raised its stake in Home Depot by 19.4% in the 4th quarter. GAMMA Investing LLC now owns 26,052 shares of the home improvement retailer’s stock worth $10,134,000 after purchasing an additional 4,229 shares in the last quarter. Modus Advisors LLC boosted its holdings in Home Depot by 0.3% in the 4th quarter. Modus Advisors LLC now owns 9,244 shares of the home improvement retailer’s stock valued at $3,596,000 after purchasing an additional 31 shares during the period. Finally, Everence Capital Management Inc. grew its position in shares of Home Depot by 34.7% during the 4th quarter. Everence Capital Management Inc. now owns 36,418 shares of the home improvement retailer’s stock worth $14,166,000 after purchasing an additional 9,380 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Truist Financial dropped their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $434.08.

Home Depot Stock Up 1.7 %

Shares of NYSE HD opened at $364.41 on Friday. The company’s 50 day moving average price is $360.97 and its 200-day moving average price is $390.53. 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 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 $362.24 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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 business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.52%. Home Depot’s payout ratio is 61.66%.

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.