Xponance Inc. Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Xponance Inc. grew its holdings in The Home Depot, Inc. (NYSE:HD) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 221,145 shares of the home improvement retailer’s stock after acquiring an additional 4,290 shares during the period. Home Depot comprises approximately 0.8% of Xponance Inc.’s portfolio, making the stock its 17th biggest holding. Xponance Inc.’s holdings in Home Depot were worth $86,023,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at about $32,000. NewSquare Capital LLC lifted its holdings in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Home Depot during the 3rd quarter valued at about $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. HSBC upgraded shares of 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. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Robert W. Baird reduced their price target 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. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

NYSE:HD opened at $354.06 on Tuesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a fifty day moving average of $396.73 and a two-hundred day moving average of $399.54. The stock has a market capitalization of $351.71 billion, a PE ratio of 24.05, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last posted 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 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%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend 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.