L & S Advisors Inc Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

L & S Advisors Inc lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,357 shares of the home improvement retailer’s stock after selling 403 shares during the quarter. L & S Advisors Inc’s holdings in Home Depot were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Synergy Asset Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the 4th quarter worth approximately $32,000. Sellwood Investment Partners LLC acquired a new position in Home Depot during the 4th quarter worth approximately $39,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Home Depot by 200.0% in 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 period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Home Depot stock opened at $357.86 on Friday. The stock has a fifty day moving average price of $389.98 and a 200 day moving average price of $398.80. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a market capitalization of $355.72 billion, a P/E ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. 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) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research 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. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $435.85.

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.