The Home Depot, Inc. (NYSE:HD) Shares Acquired by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 42.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,161 shares of the home improvement retailer’s stock after buying an additional 949 shares during the quarter. Home Depot comprises about 0.6% of Flynn Zito Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Flynn Zito Capital Management LLC’s holdings in Home Depot were worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the 3rd quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Home Depot in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HD. Piper Sandler decreased their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Down 0.7 %

Shares of Home Depot stock opened at $390.40 on Thursday. The stock has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 simple moving average is $401.17 and its 200-day simple moving average is $398.42.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company earned $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is presently 61.14%.

About Home Depot

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.