Fortis Capital Management LLC Sells 669 Shares of The Home Depot, Inc. (NYSE:HD)

Fortis Capital Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,208 shares of the home improvement retailer’s stock after selling 669 shares during the period. Fortis Capital Management LLC’s holdings in Home Depot were worth $859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the 4th quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in Home Depot in the 3rd quarter worth about $41,000. Finally, Marshall Investment Management LLC bought a new stake in Home Depot in the 4th quarter worth about $41,000. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Nine 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

NYSE HD opened at $352.12 on Friday. The company’s 50 day simple moving average is $393.97 and its two-hundred day simple moving average is $398.90. The stock has a market capitalization of $349.78 billion, a PE ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 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 issued 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 firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.82 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared 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. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.61%. Home Depot’s dividend payout ratio is presently 61.66%.

Home Depot 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.