Kovitz Investment Group Partners LLC Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Kovitz Investment Group Partners LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 75,218 shares of the home improvement retailer's stock after selling 18,575 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Home Depot were worth $29,259,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HD. Principal Financial Group Inc. boosted its stake in Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock valued at $596,140,000 after acquiring an additional 141,915 shares during the period. Morse Asset Management Inc increased its stake in Home Depot by 12.9% during the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer's stock valued at $12,357,000 after buying an additional 3,493 shares during the period. Invst LLC raised its position in shares of Home Depot by 1.7% during the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer's stock worth $2,719,000 after buying an additional 115 shares in the last quarter. McIlrath & Eck LLC boosted its holdings in shares of Home Depot by 4.5% in the third quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer's stock valued at $1,089,000 after acquiring an additional 115 shares in the last quarter. Finally, Tudor Financial Inc. bought a new stake in Home Depot during the third quarter worth approximately $1,027,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Trading Down 0.8 %

Shares of HD traded down $2.73 during mid-day trading on Wednesday, reaching $356.27. The company's stock had a trading volume of 897,953 shares, compared to its average volume of 3,451,745. 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 Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company's fifty day moving average price is $362.50 and its two-hundred day moving average price is $391.50. The stock has a market cap of $354.14 billion, a PE ratio of 24.20, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (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 company had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same period last year, the firm earned $2.82 earnings per share. Home Depot's quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. 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 dividend payout ratio is 61.66%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler cut their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Truist Financial cut their target price on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Ten equities research 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $434.08.

About Home Depot

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.