Balboa Wealth Partners Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Balboa Wealth Partners reduced its stake in The Home Depot, Inc. (NYSE:HD) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,783 shares of the home improvement retailer’s stock after selling 319 shares during the period. Balboa Wealth Partners’ holdings in Home Depot were worth $1,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. HBK Sorce Advisory LLC raised its holdings in Home Depot by 2.4% in the 4th quarter. HBK Sorce Advisory LLC now owns 16,418 shares of the home improvement retailer’s stock valued at $6,386,000 after buying an additional 381 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Home Depot by 12.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 225,701 shares of the home improvement retailer’s stock valued at $87,895,000 after buying an additional 25,666 shares during the period. Erste Asset Management GmbH raised its holdings in Home Depot by 30.4% in the 4th quarter. Erste Asset Management GmbH now owns 161,326 shares of the home improvement retailer’s stock valued at $63,214,000 after buying an additional 37,581 shares during the period. Mascoma Wealth Management LLC raised its holdings in Home Depot by 4.1% in the 4th quarter. Mascoma Wealth Management LLC now owns 956 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 38 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in Home Depot by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 100,052 shares of the home improvement retailer’s stock valued at $38,919,000 after buying an additional 2,199 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on HD shares. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler cut their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

Shares of HD opened at $364.82 on Thursday. The stock has a 50 day moving average price of $399.01 and a 200 day moving average price of $399.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $362.39 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced 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 firm 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 earnings per share. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 2.52%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

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.