MainStreet Investment Advisors LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

MainStreet Investment Advisors LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 36,309 shares of the home improvement retailer’s stock after selling 772 shares during the quarter. Home Depot comprises approximately 2.0% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 11th biggest holding. MainStreet Investment Advisors LLC’s holdings in Home Depot were worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the fourth quarter worth about $28,000. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $32,000. Finally, Quarry LP lifted its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $373.66 on Wednesday. The company’s 50-day moving average price is $357.86 and its 200-day moving average price is $388.40. 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 company has a market cap of $371.43 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly 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. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $2.82 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.46%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Royal Bank of Canada reduced their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial lifted their target price on shares of Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley decreased their price target on Home Depot from $450.00 to $410.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Ten research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.32.

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.