Principal Street Partners LLC Sells 1,268 Shares of The Home Depot, Inc. (NYSE:HD)

Principal Street Partners LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,845 shares of the home improvement retailer’s stock after selling 1,268 shares during the period. Home Depot comprises approximately 1.3% of Principal Street Partners LLC’s portfolio, making the stock its 23rd largest position. Principal Street Partners LLC’s holdings in Home Depot were worth $6,552,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, Quarry LP grew its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.5%

HD stock opened at $379.03 on Tuesday. The firm’s fifty day simple moving average is $358.40 and its 200-day simple moving average is $387.85. The company has a market capitalization of $376.77 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.60 by ($0.04). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. During the same period last year, the firm earned $3.63 EPS. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HD shares. JPMorgan Chase & Co. lowered their price target on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Royal Bank of Canada decreased 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. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Morgan Stanley lowered their price target on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Truist Financial lifted their price objective on Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Nine 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $430.32.

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.