Cabot Wealth Management Inc. Has $13.42 Million Position in The Home Depot, Inc. (NYSE:HD)

Cabot Wealth Management Inc. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,509 shares of the home improvement retailer’s stock after buying an additional 626 shares during the quarter. Home Depot comprises about 1.7% of Cabot Wealth Management Inc.’s portfolio, making the stock its 19th largest holding. Cabot Wealth Management Inc.’s holdings in Home Depot were worth $13,424,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Synergy Asset Management LLC acquired a new position in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the third quarter valued at about $41,000. Marshall Investment Management LLC bought a new position in Home Depot during the fourth quarter worth about $41,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Home Depot in the 4th quarter worth about $41,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $384.82 on Friday. The firm has a market capitalization of $382.26 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business’s 50-day moving average price is $402.13 and its 200-day moving average price is $397.54. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HD shares. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. TD Cowen increased their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Truist Financial lifted their price objective on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $433.44.

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.