The Home Depot, Inc. (NYSE:HD) Stock Position Lowered by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,019,194 shares of the home improvement retailer's stock after selling 99,600 shares during the quarter. Home Depot makes up about 0.7% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 21st biggest position. Adage Capital Partners GP L.L.C. owned 0.10% of Home Depot worth $396,456,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HD. K.J. Harrison & Partners Inc boosted its holdings in shares of Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after buying an additional 3,873 shares during the period. Pensionfund Sabic boosted its holdings in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Wedmont Private Capital grew its position in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock valued at $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Disciplined Investors L.L.C. acquired a new stake in Home Depot during the fourth quarter worth about $409,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on HD. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Wells Fargo & Company increased 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. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Guggenheim reiterated a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Gordon Haskett downgraded shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Price Performance

NYSE:HD traded down $2.02 during midday trading on Friday, hitting $357.62. 2,810,233 shares of the stock were exchanged, compared to its average volume of 3,464,974. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business has a 50-day moving average price of $363.97 and a two-hundred day moving average price of $392.23. The company has a market capitalization of $355.49 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 analyst estimates of $39.15 billion. During the same period in the previous year, the company earned $2.82 earnings per share. Home Depot's revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

Home Depot 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.