Sierra Summit Advisors LLC Purchases 1,286 Shares of The Home Depot, Inc. (NYSE:HD)

Sierra Summit Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,426 shares of the home improvement retailer’s stock after buying an additional 1,286 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Home Depot were worth $2,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in HD. Ritter Daniher Financial Advisory LLC DE increased its holdings in Home Depot by 8.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 749 shares of the home improvement retailer’s stock worth $291,000 after acquiring an additional 59 shares during the last quarter. Trek Financial LLC boosted its position in Home Depot by 1.3% during the fourth quarter. Trek Financial LLC now owns 2,972 shares of the home improvement retailer’s stock worth $1,156,000 after purchasing an additional 39 shares during the period. Prospector Partners LLC increased its stake in shares of Home Depot by 0.3% in the fourth quarter. Prospector Partners LLC now owns 32,586 shares of the home improvement retailer’s stock worth $12,676,000 after purchasing an additional 87 shares in the last quarter. Aristides Capital LLC raised its position in shares of Home Depot by 122.0% in the fourth quarter. Aristides Capital LLC now owns 8,880 shares of the home improvement retailer’s stock valued at $3,454,000 after purchasing an additional 4,880 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Home Depot by 3.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,048 shares of the home improvement retailer’s stock worth $1,575,000 after buying an additional 135 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $353.78 on Monday. 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 $351.67 billion, a PE ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The company’s fifty day moving average is $384.89 and its 200 day moving average is $398.35. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS 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 the consensus estimate of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate 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 was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is presently 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.