Gradient Investments LLC Has $16.42 Million Position in The Home Depot, Inc. (NYSE:HD)

Gradient Investments LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 52.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,984 shares of the home improvement retailer’s stock after selling 56,874 shares during the quarter. Gradient Investments LLC’s holdings in Home Depot were worth $16,420,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HD. Grayhawk Investment Strategies Inc. acquired a new stake in Home Depot during the 2nd quarter worth $28,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter valued at $27,000. First Personal Financial Services grew its holdings in shares of Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after buying an additional 43 shares during the period. Align Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $30,000. Finally, Bellwether Advisors LLC grew its holdings in shares of Home Depot by 74.0% in the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 54 shares during the period. 68.31% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 0.6 %

NYSE:HD opened at $288.39 on Friday. The company has a fifty day moving average of $310.70 and a 200 day moving average of $303.66. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $347.25. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86. The firm has a market capitalization of $295.23 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.61 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The company had revenue of $35.83 billion during the quarter, compared to analyst estimates of $36 billion. During the same period in the prior year, the business posted $3.21 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, research analysts predict that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be issued a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, March 8th. This is an increase from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio (DPR) is presently 50.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Home Depot from $382.00 to $352.00 in a research note on Wednesday, February 22nd. Credit Suisse Group cut their price target on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. StockNews.com began coverage on shares of Home Depot in a research report on Thursday. They set a “hold” rating on the stock. Robert W. Baird dropped their target price on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Tuesday, February 21st. Finally, Loop Capital lowered their price target on shares of Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $331.45.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.