Baxter Bros Inc. Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Baxter Bros Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,837 shares of the home improvement retailer’s stock after selling 97 shares during the period. Home Depot comprises 1.3% of Baxter Bros Inc.’s holdings, making the stock its 22nd largest holding. Baxter Bros Inc.’s holdings in Home Depot were worth $9,300,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Sheets Smith Wealth Management boosted its holdings in Home Depot by 5.1% during the 3rd quarter. Sheets Smith Wealth Management now owns 1,225 shares of the home improvement retailer’s stock valued at $370,000 after acquiring an additional 59 shares during the period. Lederer & Associates Investment Counsel CA lifted its holdings in Home Depot by 3.6% during the 3rd quarter. Lederer & Associates Investment Counsel CA now owns 3,206 shares of the home improvement retailer’s stock valued at $969,000 after buying an additional 112 shares in the last quarter. Cohen Lawrence B boosted its position in Home Depot by 139.8% in the 3rd quarter. Cohen Lawrence B now owns 1,844 shares of the home improvement retailer’s stock valued at $557,000 after buying an additional 1,075 shares during the period. TFC Financial Management Inc. grew its stake in Home Depot by 1.6% in the 3rd quarter. TFC Financial Management Inc. now owns 2,420 shares of the home improvement retailer’s stock worth $731,000 after acquiring an additional 38 shares in the last quarter. Finally, RMR Wealth Builders raised its stake in shares of Home Depot by 24.7% during the third quarter. RMR Wealth Builders now owns 9,948 shares of the home improvement retailer’s stock valued at $3,006,000 after acquiring an additional 1,968 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HD. Guggenheim restated a “buy” rating and set a $390.00 price objective on shares of Home Depot in a report on Friday, April 5th. Wells Fargo & Company boosted their price target on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Bank of America upped their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Citigroup upped their price objective on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Price Performance

HD traded up $7.32 during trading on Friday, hitting $342.85. The company’s stock had a trading volume of 4,165,054 shares, compared to its average volume of 3,606,830. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The firm has a market capitalization of $339.77 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 1.01. The business’s fifty day simple moving average is $361.75 and its 200 day simple moving average is $342.08. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same period last year, the firm posted $3.30 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.63%. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

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.