Toronto Dominion Bank Cuts Position in The Home Depot, Inc. (NYSE:HD)

Toronto Dominion Bank lessened its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 17.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 504,969 shares of the home improvement retailer's stock after selling 107,919 shares during the period. Toronto Dominion Bank owned about 0.05% of Home Depot worth $196,424,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter valued at $28,000. Navigoe LLC bought a new position in shares of Home Depot in the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $32,000. Finally, Quarry LP lifted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on HD. JPMorgan Chase & Co. dropped their price target on Home Depot from $470.00 to $410.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and lifted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial lifted their target price on Home Depot from $391.00 to $393.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada cut their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $430.32.

Home Depot Stock Up 0.6%

Home Depot stock traded up $2.11 during midday trading on Friday, reaching $380.74. The stock had a trading volume of 3,127,104 shares, compared to its average volume of 3,421,764. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a market capitalization of $378.46 billion, a P/E ratio of 25.87, a PEG ratio of 4.03 and a beta of 1.05. The company has a fifty day moving average price of $358.12 and a two-hundred day moving average price of $387.95. 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 quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders 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 dividend on an annualized basis and a yield of 2.42%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is 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.