ClearAlpha Technologies LP Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

ClearAlpha Technologies LP lessened its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 71.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 564 shares of the home improvement retailer's stock after selling 1,405 shares during the period. ClearAlpha Technologies LP's holdings in Home Depot were worth $219,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth $32,000. Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $41,000. Finally, Sellwood Investment Partners LLC bought a new position in Home Depot during the fourth quarter valued at about $39,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HD. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and increased their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Truist Financial reduced their target price on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wedbush reiterated an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Stock Down 0.6 %

Shares of NYSE HD traded down $2.02 during midday trading on Friday, hitting $357.62. 2,810,233 shares of the stock traded hands, compared to its average volume of 3,460,975. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The business has a 50 day moving average price of $363.97 and a two-hundred day moving average price of $392.40. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market cap of $355.49 billion, a PE 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 issued its quarterly earnings data 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 firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

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

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.