Cascade Investment Advisors Inc. cut its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,590 shares of the home improvement retailer’s stock after selling 335 shares during the period. Cascade Investment Advisors Inc.’s holdings in Home Depot were worth $1,075,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in HD. Norges Bank acquired a new position in Home Depot during the fourth quarter valued at approximately $4,325,629,000. Allspring Global Investments Holdings LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $440,559,000. Jennison Associates LLC lifted its position in Home Depot by 21.1% during the fourth quarter. Jennison Associates LLC now owns 4,823,391 shares of the home improvement retailer’s stock valued at $2,001,755,000 after buying an additional 840,033 shares in the last quarter. Geode Capital Management LLC lifted its position in Home Depot by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock valued at $7,002,662,000 after buying an additional 701,811 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in Home Depot by 11.4% during the third quarter. UBS Asset Management Americas Inc. now owns 5,903,692 shares of the home improvement retailer’s stock valued at $1,937,946,000 after buying an additional 605,827 shares in the last quarter. 70.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the stock. OTR Global cut shares of Home Depot to a “positive” rating in a research report on Tuesday, May 10th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Wedbush reduced their target price on shares of Home Depot from $340.00 to $320.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 18th. Piper Sandler boosted their target price on shares of Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 18th. Finally, DA Davidson reduced their target price on shares of Home Depot from $354.00 to $330.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $373.86.
HD stock opened at $268.98 on Thursday. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.11 and a quick ratio of 0.28. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61. The firm has a fifty day moving average price of $295.62 and a two-hundred day moving average price of $334.61. The firm has a market cap of $276.45 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.62 and a beta of 0.97.
Home Depot (NYSE:HD – Get Rating) last released its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.42. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.16%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $36.78 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 16.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were paid a dividend of $1.90 per share. The ex-dividend date was Wednesday, June 1st. This represents a $7.60 annualized dividend and a yield of 2.83%. Home Depot’s payout ratio is 48.25%.
About Home Depot (Get Rating)
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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