Cornercap Investment Counsel Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cornercap Investment Counsel Inc. reduced its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 55.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,875 shares of the home improvement retailer's stock after selling 2,338 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Home Depot were worth $729,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HD. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Finally, Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $435.85.

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Home Depot Stock Performance

NYSE:HD traded up $3.60 on Wednesday, hitting $369.12. The stock had a trading volume of 1,017,186 shares, compared to its average volume of 3,438,187. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market cap of $366.91 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business's 50-day simple moving average is $388.06 and its two-hundred day simple moving average is $398.84.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results 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 business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. As a group, research analysts predict 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 given a dividend of $2.30 per share. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

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.