Exchange Capital Management Inc. Sells 756 Shares of The Home Depot, Inc. (NYSE:HD)

Exchange Capital Management Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,959 shares of the home improvement retailer’s stock after selling 756 shares during the period. Exchange Capital Management Inc.’s holdings in Home Depot were worth $5,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. POM Investment Strategies LLC boosted its stake in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares during the period. Center for Financial Planning Inc. lifted its position in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after buying an additional 24 shares in the last quarter. Insight Inv LLC lifted its position in shares of Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after buying an additional 25 shares in the last quarter. Marino Stram & Associates LLC lifted its position in shares of Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC lifted its position in shares of Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after buying an additional 25 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus raised their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Truist Financial raised their target price on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Evercore ISI lifted their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $433.44.

Home Depot Price Performance

Shares of HD opened at $381.12 on Tuesday. The company has a market cap of $378.59 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company’s fifty day simple moving average is $401.53 and its 200 day simple moving average is $398.16. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.41%. Home Depot’s payout ratio is currently 61.14%.

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.