Avantax Advisory Services Inc. Raises Stake in The Home Depot, Inc. (NYSE:HD)

Avantax Advisory Services Inc. lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 100,052 shares of the home improvement retailer’s stock after purchasing an additional 2,199 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Home Depot were worth $38,919,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $32,000. NewSquare Capital LLC boosted its holdings in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $368.49 on Wednesday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm’s 50-day simple moving average is $399.50 and its 200 day simple moving average is $400.03. 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 stock has a market cap of $366.04 billion, a P/E ratio of 25.03, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed 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 is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada decreased their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued 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 an average price target of $436.50.

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.