988 Shares in The Home Depot, Inc. (NYSE:HD) Acquired by Hughes Financial Services LLC

Hughes Financial Services LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, HoldingsChannel reports. The firm purchased 988 shares of the home improvement retailer’s stock, valued at approximately $384,000.

Several other hedge funds have also made changes to their positions in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC bought a new position in Home Depot during the fourth quarter valued at about $41,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 4.7 %

NYSE:HD opened at $347.42 on Friday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a market capitalization of $345.12 billion, a P/E ratio of 23.60, a P/E/G ratio of 4.03 and a beta of 1.09. 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 company’s 50-day simple moving average is $398.19 and its 200-day simple moving average is $399.42.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the firm posted $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. 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 yield of 2.65%. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler dropped 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, February 26th. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Nine 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. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.