Synovus Financial Corp Sells 9,955 Shares of The Home Depot, Inc. (NYSE:HD)

Synovus Financial Corp lessened its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,209 shares of the home improvement retailer's stock after selling 9,955 shares during the quarter. Home Depot comprises approximately 0.9% of Synovus Financial Corp's portfolio, making the stock its 18th biggest position. Synovus Financial Corp's holdings in Home Depot were worth $72,452,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock valued at $596,140,000 after acquiring an additional 141,915 shares during the last quarter. Morse Asset Management Inc grew its holdings in shares of Home Depot by 12.9% during the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer's stock worth $12,357,000 after purchasing an additional 3,493 shares during the period. Invst LLC increased its position in Home Depot by 1.7% during the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer's stock worth $2,719,000 after purchasing an additional 115 shares in the last quarter. McIlrath & Eck LLC raised its stake in shares of Home Depot by 4.5% in the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer's stock valued at $1,089,000 after acquiring an additional 115 shares during the period. Finally, Tudor Financial Inc. acquired a new position in shares of Home Depot during the third quarter worth about $1,027,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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Home Depot Price Performance

Shares of NYSE HD traded up $4.06 during trading hours on Tuesday, reaching $361.26. 188,939 shares of the stock traded hands, compared to its average volume of 3,474,445. The company's 50-day simple moving average is $374.14 and its two-hundred day simple moving average is $395.67. The company has a market capitalization of $359.11 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The company's quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast 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. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.55%. Home Depot's payout ratio is 61.66%.

Analyst Ratings Changes

A number of brokerages have issued reports on HD. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Truist Financial reduced their target price on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. 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. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Wedbush reissued an "outperform" rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $434.08.

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.