CIBC Private Wealth Group LLC Sells 310,246 Shares of The Home Depot, Inc. (NYSE:HD)

CIBC Private Wealth Group LLC lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,222,842 shares of the home improvement retailer's stock after selling 310,246 shares during the quarter. Home Depot accounts for approximately 0.9% of CIBC Private Wealth Group LLC's holdings, making the stock its 19th biggest holding. CIBC Private Wealth Group LLC owned 0.12% of Home Depot worth $473,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $41,000. Finally, Marshall Investment Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and boosted their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Truist Financial decreased 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. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average target price of $435.85.

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Home Depot Trading Up 2.5 %

Shares of NYSE:HD traded up $8.80 during midday trading on Monday, hitting $366.95. The company had a trading volume of 4,497,917 shares, compared to its average volume of 3,453,700. The firm has a fifty day simple moving average of $389.98 and a 200 day simple moving average of $398.99. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $364.76 billion, a price-to-earnings ratio of 24.93, 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.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the company earned $2.82 earnings per share. Home Depot's quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed 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 yield of 2.51%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is 61.66%.

Home Depot 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.