Bay Colony Advisory Group Inc d b a Bay Colony Advisors Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,509 shares of the home improvement retailer’s stock after buying an additional 386 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Home Depot were worth $2,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in HD. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $32,000. NewSquare Capital LLC lifted its position in Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in Home Depot during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. Mizuho increased their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler lowered their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

HD opened at $381.48 on Friday. The stock has a market capitalization of $378.95 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 4.03 and a beta of 1.05. The company has a fifty day moving average of $400.54 and a 200 day moving average of $399.49. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $2.82 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.41%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 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.