Dark Forest Capital Management LP Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Dark Forest Capital Management LP reduced its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 46.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,761 shares of the home improvement retailer's stock after selling 1,510 shares during the quarter. Dark Forest Capital Management LP's holdings in Home Depot were worth $685,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HD. Vanguard Group Inc. boosted its position in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC grew its position in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after acquiring an additional 257,036 shares during the last quarter. Norges Bank acquired a new stake in Home Depot in the 4th quarter valued at about $5,032,910,000. Capital Research Global Investors boosted its stake in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer's stock valued at $3,715,668,000 after buying an additional 125,441 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Guggenheim reiterated a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Wedbush reiterated an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Ten 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's stock. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Stock Up 0.6 %

HD stock traded up $2.09 during trading on Tuesday, reaching $359.01. The stock had a trading volume of 750,990 shares, compared to its average volume of 3,450,081. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company's 50 day moving average is $363.21 and its two-hundred day moving average is $391.72. 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 company has a market capitalization of $356.86 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the firm earned $2.82 EPS. The company's revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared 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. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.56%. Home Depot's dividend 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.