Weik Capital Management Sells 65 Shares of The Home Depot, Inc. (NYSE:HD)

Weik Capital Management lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 0.5% in the fourth quarter, Holdings Channel reports. The firm owned 11,905 shares of the home improvement retailer’s stock after selling 65 shares during the quarter. Home Depot comprises about 1.9% of Weik Capital Management’s holdings, making the stock its 12th biggest position. Weik Capital Management’s holdings in Home Depot were worth $4,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter valued at $41,000. Finally, Marshall Investment Management LLC acquired a new position in Home Depot during the fourth quarter worth $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HD has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $356.00 to $410.00 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. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Nine equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Stock Performance

NYSE HD opened at $362.96 on Friday. The firm’s fifty day moving average price is $391.01 and its two-hundred day moving average price is $398.65. The stock has a market cap of $360.55 billion, a PE ratio of 24.66, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two 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 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is currently 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.