Cottage Street Advisors LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Cottage Street Advisors LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,249 shares of the home improvement retailer’s stock after purchasing an additional 33 shares during the period. Home Depot comprises approximately 2.7% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Cottage Street Advisors LLC’s holdings in Home Depot were worth $5,154,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter worth $32,000. Sellwood Investment Partners LLC bought a new stake in shares of Home Depot in the fourth quarter valued at $39,000. Finally, NewSquare Capital LLC lifted its position in shares of Home Depot by 200.0% during the 4th 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 during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HD shares. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Wedbush reissued an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased 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 report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 0.8 %

NYSE:HD opened at $360.90 on Wednesday. The firm has a market capitalization of $358.50 billion, a P/E ratio of 24.52, a P/E/G ratio of 4.03 and a beta of 1.09. 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 fifty day moving average of $392.82 and a 200 day moving average of $399.16. 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 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. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 earnings per share. On average, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Home Depot Company 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.