Morse Asset Management Inc Sells 2,135 Shares of The Home Depot, Inc. (NYSE:HD)

Morse Asset Management Inc reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,362 shares of the home improvement retailer's stock after selling 2,135 shares during the period. Home Depot makes up 2.5% of Morse Asset Management Inc's portfolio, making the stock its 7th largest holding. Morse Asset Management Inc's holdings in Home Depot were worth $11,033,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. K.J. Harrison & Partners Inc increased 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 worth $3,535,000 after buying an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings 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 last quarter. Wedmont Private Capital increased its holdings in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after buying an additional 1,506 shares during the last quarter. Disciplined Investors L.L.C. bought a new stake in shares of Home Depot in the 4th quarter worth about $409,000. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $1,793,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Down 0.4%

Home Depot stock traded down $1.44 during mid-day trading on Wednesday, reaching $372.16. 2,587,267 shares of the company were exchanged, compared to its average volume of 3,424,203. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The business has a fifty day moving average of $357.77 and a 200 day moving average of $388.29. 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 firm has a market cap of $369.94 billion, a P/E ratio of 25.28, a PEG ratio of 4.03 and a beta of 1.05.

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, 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 during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HD. Guggenheim reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler cut 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. Finally, Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $430.32.

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.