Zacks Investment Management Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Zacks Investment Management trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 499,862 shares of the home improvement retailer's stock after selling 54,200 shares during the period. Home Depot comprises about 1.8% of Zacks Investment Management's holdings, making the stock its 8th biggest holding. Zacks Investment Management owned 0.05% of Home Depot worth $194,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at $32,000. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $39,000. Finally, NewSquare Capital LLC grew its holdings in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Home Depot stock traded up $8.86 on Friday, reaching $354.85. 3,231,380 shares of the stock were exchanged, compared to its average volume of 3,470,719. The stock has a market cap of $352.73 billion, a PE ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09. The firm has a fifty day moving average price of $369.30 and a two-hundred day moving average price of $394.20. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business 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. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Robert W. Baird decreased their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Ten 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's stock. According to data from MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $434.08.

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.