Dorsal Capital Management LP Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Dorsal Capital Management LP reduced its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 325,000 shares of the home improvement retailer's stock after selling 25,000 shares during the quarter. Home Depot accounts for about 3.0% of Dorsal Capital Management LP's investment portfolio, making the stock its 12th biggest holding. Dorsal Capital Management LP's holdings in Home Depot were worth $126,422,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HD. Synergy Asset Management LLC bought a new position in Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC purchased a new position in shares of Home Depot in the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $32,000. Finally, Quarry LP grew its position in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $430.32.

Home Depot Trading Down 0.6 %

Shares of HD traded down $2.31 during trading hours on Friday, reaching $362.55. 1,970,748 shares of the company traded hands, compared to its average volume of 3,441,024. The firm has a market cap of $360.39 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The stock's fifty day moving average price is $358.23 and its 200 day moving average price is $388.76. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $2.82 earnings per share. The business's revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 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.