The Home Depot, Inc. (NYSE:HD) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,755 shares of the home improvement retailer’s stock after selling 194 shares during the quarter. Home Depot accounts for approximately 1.3% of Baxter Bros Inc.’s holdings, making the stock its 21st largest holding. Baxter Bros Inc.’s holdings in Home Depot were worth $9,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bay Capital Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $310,000. Potentia Wealth bought a new stake in shares of Home Depot during the 4th quarter valued at about $550,000. PKS Advisory Services LLC acquired a new stake in Home Depot during the fourth quarter worth about $885,000. Prestige Wealth Management Group LLC lifted its holdings in Home Depot by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 6,686 shares of the home improvement retailer’s stock worth $2,601,000 after acquiring an additional 128 shares during the last quarter. Finally, Syverson Strege & Co boosted its stake in Home Depot by 87.9% in the fourth quarter. Syverson Strege & Co now owns 1,045 shares of the home improvement retailer’s stock valued at $407,000 after acquiring an additional 489 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HD. 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. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird decreased their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Up 3.7 %

NYSE HD opened at $363.97 on Tuesday. The stock’s 50 day simple moving average is $393.46 and its 200 day simple moving average is $399.16. 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 one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $361.55 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company earned $2.82 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. Home Depot’s payout ratio is currently 61.66%.

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.