Pinebridge Investments L.P. Sells 170,389 Shares of The Home Depot, Inc. (NYSE:HD)

Pinebridge Investments L.P. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 65.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 90,743 shares of the home improvement retailer's stock after selling 170,389 shares during the period. Pinebridge Investments L.P.'s holdings in Home Depot were worth $35,298,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC raised its holdings in Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after acquiring an additional 24 shares during the period. Center for Financial Planning Inc. raised its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock valued at $1,810,000 after acquiring an additional 24 shares during the period. Marino Stram & Associates LLC raised its holdings in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock valued at $431,000 after acquiring an additional 25 shares during the period. Live Oak Private Wealth LLC raised its holdings in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after acquiring an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC raised its holdings in Home Depot by 4.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock valued at $255,000 after acquiring an additional 25 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial lowered their target price on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird lowered their target price on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Finally, HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Trading Down 0.6 %

NYSE HD traded down $2.02 during trading hours on Friday, hitting $357.62. 2,810,233 shares of the company's stock were exchanged, compared to its average volume of 3,464,974. The stock has a 50-day simple moving average of $363.97 and a 200 day simple moving average of $392.11. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market cap of $355.49 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 4.03 and a beta of 1.09. 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 released its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter last year, the firm posted $2.82 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

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