HFR Wealth Management LLC Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

HFR Wealth Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,471 shares of the home improvement retailer’s stock after purchasing an additional 132 shares during the period. HFR Wealth Management LLC’s holdings in Home Depot were worth $572,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. K.J. Harrison & Partners Inc boosted its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Pensionfund Sabic lifted its holdings in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares during the period. Swedbank AB lifted its holdings in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the period. Wedmont Private Capital lifted its holdings in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter worth about $1,793,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $389.03 on Tuesday. The company has a market capitalization of $386.45 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 firm has a 50 day moving average of $401.29 and a 200 day moving average of $399.57. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, equities research 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Barclays raised their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

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.