Fortress Financial Group LLC Invests $232,000 in The Home Depot, Inc. (NYSE:HD)

Fortress Financial Group LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 596 shares of the home improvement retailer’s stock, valued at approximately $232,000.

Several other hedge funds have also recently added to or reduced their stakes in HD. Mills Wealth Advisors LLC lifted its holdings in shares of Home Depot by 9.2% in the fourth quarter. Mills Wealth Advisors LLC now owns 737 shares of the home improvement retailer’s stock valued at $287,000 after purchasing an additional 62 shares in the last quarter. Dynasty Wealth Management LLC increased its position in Home Depot by 10.0% during the fourth quarter. Dynasty Wealth Management LLC now owns 5,190 shares of the home improvement retailer’s stock worth $2,019,000 after buying an additional 473 shares in the last quarter. First American Bank raised its holdings in shares of Home Depot by 1.3% in the fourth quarter. First American Bank now owns 53,841 shares of the home improvement retailer’s stock worth $20,944,000 after acquiring an additional 668 shares during the last quarter. Pettyjohn Wood & White Inc. lifted its position in shares of Home Depot by 2.4% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 36,701 shares of the home improvement retailer’s stock valued at $14,276,000 after acquiring an additional 852 shares in the last quarter. Finally, Bouchey Financial Group Ltd boosted its stake in shares of Home Depot by 27.5% during the fourth quarter. Bouchey Financial Group Ltd now owns 1,978 shares of the home improvement retailer’s stock valued at $770,000 after acquiring an additional 427 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler reduced their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

HD stock opened at $390.44 on Friday. The firm has a market cap of $387.85 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The stock has a 50-day simple moving average of $401.27 and a 200-day simple moving average of $398.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating 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 analyst estimates of $39.15 billion. During the same period last year, the business earned $2.82 EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. 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. This represents a $9.20 annualized dividend and a yield of 2.36%. Home Depot’s payout ratio is currently 61.66%.

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.