The Home Depot, Inc. (NYSE:HD) Position Reduced by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,163 shares of the home improvement retailer’s stock after selling 60 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Home Depot were worth $1,619,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mystic Asset Management Inc. lifted its position in shares of Home Depot by 289.1% in the 4th quarter. Mystic Asset Management Inc. now owns 16,627 shares of the home improvement retailer’s stock worth $6,468,000 after buying an additional 12,354 shares during the last quarter. RD Lewis Holdings Inc. bought a new position in shares of Home Depot in the 4th quarter worth about $988,000. Aspen Wealth Strategies LLC lifted its position in shares of Home Depot by 2.4% in the 4th quarter. Aspen Wealth Strategies LLC now owns 2,335 shares of the home improvement retailer’s stock worth $908,000 after buying an additional 54 shares during the last quarter. Edgemoor Investment Advisors Inc. lifted its position in shares of Home Depot by 3.8% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 2,167 shares of the home improvement retailer’s stock worth $843,000 after buying an additional 80 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Home Depot in the 4th quarter worth about $274,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $354.06 on Tuesday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a 50-day moving average of $396.73 and a two-hundred day moving average of $399.54. The stock has a market cap of $351.71 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09. 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 announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the company posted $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 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 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HD. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the company from $356.00 to $410.00 in a research note 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $436.50.

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.