Capital World Investors Sells 4,148,985 Shares of The Home Depot, Inc. (NYSE:HD)

Capital World Investors lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 17.4% during the 4th quarter, HoldingsChannel reports. The fund owned 19,652,079 shares of the home improvement retailer’s stock after selling 4,148,985 shares during the quarter. Home Depot accounts for about 1.2% of Capital World Investors’ investment portfolio, making the stock its 14th largest holding. Capital World Investors’ holdings in Home Depot were worth $7,644,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter worth $32,000. Marshall Investment Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $41,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Home Depot in the 4th quarter valued at $39,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $354.85 on Friday. The stock’s 50 day moving average is $369.30 and its 200-day moving average is $394.32. The company has a market capitalization of $352.73 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. 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 earnings results 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial lowered their price target on Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $434.08.

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.