PKS Advisory Services LLC Buys Shares of 2,274 The Home Depot, Inc. (NYSE:HD)

PKS Advisory Services LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,274 shares of the home improvement retailer’s stock, valued at approximately $885,000.

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

Home Depot Stock Up 3.7 %

Shares of NYSE HD opened at $363.97 on Tuesday. The firm’s 50-day moving average is $393.46 and its two-hundred day moving average is $399.16. The company has a market capitalization of $361.55 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.82 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

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.