J. L. Bainbridge & Co. Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,313 shares of the home improvement retailer’s stock after selling 48 shares during the period. Home Depot comprises about 0.2% of J. L. Bainbridge & Co. Inc.’s portfolio, making the stock its 26th biggest position. J. L. Bainbridge & Co. Inc.’s holdings in Home Depot were worth $1,046,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Teamwork Financial Advisors LLC grew its position in Home Depot by 1.4% in the fourth quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock valued at $729,000 after acquiring an additional 31 shares in the last quarter. Insight Wealth Strategies LLC lifted its holdings in Home Depot by 0.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 5,794 shares of the home improvement retailer’s stock worth $1,830,000 after buying an additional 32 shares in the last quarter. Monterey Private Wealth Inc. grew its stake in shares of Home Depot by 2.2% during the fourth quarter. Monterey Private Wealth Inc. now owns 1,495 shares of the home improvement retailer’s stock valued at $472,000 after acquiring an additional 32 shares in the last quarter. Virtue Capital Management LLC increased its position in shares of Home Depot by 1.4% during the third quarter. Virtue Capital Management LLC now owns 2,476 shares of the home improvement retailer’s stock worth $683,000 after acquiring an additional 33 shares during the last quarter. Finally, Coastal Bridge Advisors LLC raised its position in shares of Home Depot by 0.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 5,744 shares of the home improvement retailer’s stock valued at $1,585,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on HD. Citigroup decreased their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Cowen reduced their price target on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Robert W. Baird lowered their price objective on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Tuesday, February 21st. Piper Sandler lowered their price target on shares of Home Depot from $320.00 to $300.00 in a research report on Wednesday, February 15th. Finally, Oppenheimer decreased their target price on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a research report on Friday, February 17th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $329.89.
Home Depot Stock Performance
Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.04. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. During the same period last year, the firm posted $3.21 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.
Home Depot Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were given a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Wednesday, March 8th. This is an increase from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio (DPR) is 50.12%.
About Home Depot
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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