Woodley Farra Manion Portfolio Management Inc. Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Woodley Farra Manion Portfolio Management Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,153 shares of the home improvement retailer's stock after selling 3,123 shares during the period. Home Depot accounts for about 3.3% of Woodley Farra Manion Portfolio Management Inc.'s portfolio, making the stock its 13th largest position. Woodley Farra Manion Portfolio Management Inc.'s holdings in Home Depot were worth $65,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer's stock worth $8,767,449,000 after acquiring an additional 433,126 shares during the period. Fisher Asset Management LLC grew 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 worth $3,715,668,000 after purchasing an additional 125,441 shares in the last quarter. FMR LLC increased its holdings in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer's stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Home Depot by 5.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer's stock valued at $3,253,952,000 after purchasing an additional 409,890 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Home Depot by 0.3% in the 3rd quarter. Swiss National Bank now owns 2,943,400 shares of the home improvement retailer's stock worth $1,192,666,000 after buying an additional 9,200 shares during the period. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HD. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and lifted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Wedbush reaffirmed an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Piper Sandler lowered their target price on Home Depot from $455.00 to $435.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $436.50.

Home Depot Stock Performance

NYSE:HD traded up $1.96 during midday trading on Wednesday, hitting $383.64. The company's stock had a trading volume of 456,755 shares, compared to its average volume of 3,244,869. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm's 50 day moving average is $401.00 and its 200-day moving average is $399.71. The firm has a market cap of $381.09 billion, a P/E ratio of 26.05, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. 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.