Malaga Cove Capital LLC Sells 184 Shares of The Home Depot, Inc. (NYSE:HD)

Malaga Cove Capital LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,713 shares of the home improvement retailer’s stock after selling 184 shares during the quarter. Malaga Cove Capital LLC’s holdings in Home Depot were worth $666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nearwater Capital Markets Ltd bought a new stake in shares of Home Depot in the 4th quarter valued at $38,899,000. NorthRock Partners LLC grew its stake in Home Depot by 149.6% in the fourth quarter. NorthRock Partners LLC now owns 16,274 shares of the home improvement retailer’s stock valued at $6,330,000 after acquiring an additional 9,753 shares during the period. Northeast Financial Consultants Inc increased its holdings in shares of Home Depot by 0.9% in the fourth quarter. Northeast Financial Consultants Inc now owns 23,305 shares of the home improvement retailer’s stock worth $9,065,000 after acquiring an additional 208 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth about $268,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $119,000. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Morgan Stanley lowered their target price on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Royal Bank of Canada cut their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial increased their target price on Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.32.

Home Depot Stock Performance

Shares of HD opened at $373.66 on Wednesday. The company has a market cap of $371.43 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm has a 50-day moving average of $357.86 and a 200-day moving average of $388.40. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.46%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. 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.