The Home Depot, Inc. (NYSE:HD) Shares Sold by Jensen Investment Management Inc.

Jensen Investment Management Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 484,242 shares of the home improvement retailer’s stock after selling 5,871 shares during the period. Home Depot comprises about 1.7% of Jensen Investment Management Inc.’s holdings, making the stock its 22nd largest position. Jensen Investment Management Inc.’s holdings in Home Depot were worth $188,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $32,000. NewSquare Capital LLC raised its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in Home Depot in the 3rd quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HD shares. Truist Financial decreased their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

HD opened at $351.16 on Monday. The stock has a fifty day moving average of $397.43 and a 200-day moving average of $399.63. The firm has a market capitalization of $348.83 billion, a P/E ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 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.