Avity Investment Management Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 8.3% during the 4th quarter, Holdings Channel reports. The fund owned 109,695 shares of the home improvement retailer’s stock after selling 9,914 shares during the quarter. Home Depot makes up about 3.5% of Avity Investment Management Inc.’s investment portfolio, making the stock its 8th largest position. Avity Investment Management Inc.’s holdings in Home Depot were worth $45,525,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Core Alternative Capital acquired a new stake in Home Depot during the third quarter worth about $29,000. Activest Wealth Management acquired a new stake in Home Depot in the second quarter valued at approximately $34,000. Strategic Asset Management LLC acquired a new stake in Home Depot in the third quarter valued at approximately $41,000. Fortis Advisors LLC acquired a new stake in Home Depot in the third quarter valued at approximately $82,000. Finally, Bell Investment Advisors Inc acquired a new stake in Home Depot in the third quarter valued at approximately $84,000. 69.52% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:HD traded down $1.43 on Monday, reaching $322.83. The company’s stock had a trading volume of 289,120 shares, compared to its average volume of 5,067,602. The Home Depot, Inc. has a 12-month low of $252.52 and a 12-month high of $420.61. The company has a quick ratio of 0.24, a current ratio of 1.01 and a debt-to-equity ratio of 35.47. The firm has a market cap of $337.11 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.07 and a beta of 1.06. The stock has a 50 day moving average price of $363.65 and a 200 day moving average price of $363.11.
Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Monday, February 21st. The home improvement retailer reported $3.21 EPS for the quarter, beating the Zacks’ consensus estimate of $3.18 by $0.03. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The company had revenue of $35.72 billion for the quarter, compared to the consensus estimate of $34.85 billion. During the same quarter in the previous year, the business earned $2.74 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 16.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th will be paid a $1.90 dividend. The ex-dividend date is Wednesday, March 9th. This is a boost from Home Depot’s previous quarterly dividend of $1.65. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.35%. Home Depot’s payout ratio is presently 42.53%.
Several analysts have commented on the company. The Goldman Sachs Group dropped their price objective on Home Depot from $413.00 to $402.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Guggenheim dropped their price objective on Home Depot from $425.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. JPMorgan Chase & Co. dropped their price objective on Home Depot from $406.00 to $365.00 in a report on Wednesday, February 23rd. Truist Financial decreased their target price on Home Depot from $448.00 to $405.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Finally, Loop Capital decreased their target price on Home Depot from $380.00 to $320.00 in a research report on Wednesday, February 23rd. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Buy” and a consensus price target of $394.48.
About Home Depot (Get Rating)
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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