May 23, 2022

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Latitude Advisors LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

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Latitude Advisors LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,127 shares of the home improvement retailer’s stock after selling 39 shares during the period. Latitude Advisors LLC’s holdings in Home Depot were worth $1,713,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Core Alternative Capital purchased a new stake in Home Depot during the third quarter valued at about $29,000. Activest Wealth Management purchased a new stake in Home Depot during the second quarter valued at about $34,000. Strategic Asset Management LLC purchased a new stake in Home Depot during the third quarter valued at about $41,000. Fortis Advisors LLC purchased a new stake in Home Depot during the third quarter valued at about $82,000. Finally, Bell Investment Advisors Inc purchased a new stake in Home Depot during the third quarter valued at about $84,000. Institutional investors own 69.52% of the company’s stock.

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price target on Home Depot from $448.00 to $405.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Raymond James reduced their price objective on Home Depot from $420.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 23rd. OTR Global raised Home Depot from a “mixed” rating to a “positive” rating in a research note on Tuesday, February 15th. Citigroup reduced their price objective on Home Depot from $445.00 to $377.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Finally, Barclays raised their price objective on Home Depot from $350.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 17th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $394.48.

HD traded down $1.15 on Friday, hitting $316.79. The company had a trading volume of 2,972,667 shares, compared to its average volume of 5,084,182. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.01 and a quick ratio of 0.24. The Home Depot, Inc. has a 52-week low of $266.76 and a 52-week high of $420.61. The stock has a fifty day simple moving average of $354.56 and a 200-day simple moving average of $362.32. The firm has a market capitalization of $330.80 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.03 and a beta of 1.06.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Monday, February 21st. The home improvement retailer reported $3.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.18 by $0.03. Home Depot had a net margin of 10.87% and a return on equity of 2,082.76%. The business had revenue of $35.72 billion during the quarter, compared to analyst estimates of $34.85 billion. During the same period last year, the business posted $2.74 earnings per share. Home Depot’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that The Home Depot, Inc. will post 16.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 2.40%. This is a positive change from Home Depot’s previous quarterly dividend of $1.65. The ex-dividend date is Wednesday, March 9th. Home Depot’s dividend payout ratio (DPR) is presently 48.97%.

Home Depot Company Profile (Get Rating)

The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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