The Home Depot, Inc. (NYSE:HD) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 70.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,534 shares of the home improvement retailer’s stock after selling 64,480 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Home Depot were worth $10,321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Todd Asset Management LLC grew its holdings in shares of Home Depot by 1.5% during the fourth quarter. Todd Asset Management LLC now owns 65,994 shares of the home improvement retailer’s stock valued at $25,671,000 after purchasing an additional 990 shares during the last quarter. Twin Peaks Wealth Advisors LLC boosted its position in Home Depot by 9.6% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 684 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 60 shares during the period. Acorn Wealth Advisors LLC grew its stake in Home Depot by 5.6% during the 4th quarter. Acorn Wealth Advisors LLC now owns 4,204 shares of the home improvement retailer’s stock worth $1,635,000 after buying an additional 223 shares during the last quarter. Trifecta Capital Advisors LLC increased its position in Home Depot by 6.5% in the fourth quarter. Trifecta Capital Advisors LLC now owns 17,339 shares of the home improvement retailer’s stock worth $6,745,000 after buying an additional 1,056 shares during the period. Finally, CWS Financial Advisors LLC lifted its stake in Home Depot by 13.4% in the fourth quarter. CWS Financial Advisors LLC now owns 2,590 shares of the home improvement retailer’s stock valued at $1,007,000 after buying an additional 306 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $390.40 on Thursday. The stock’s fifty day simple moving average is $401.17 and its 200 day simple moving average is $398.42. The stock has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping 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 analysts’ expectations of $39.15 billion. During the same quarter last year, the business posted $2.82 EPS. Home Depot’s revenue was up 14.1% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.14%.

Analyst Ratings Changes

Several equities analysts have recently commented on HD shares. Truist Financial lowered their price target 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. Royal Bank of Canada decreased 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. Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Stifel Nicolaus increased their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Robert W. Baird cut their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.