The Home Depot, Inc. (NYSE:HD) Stake Lifted by Hanlon Investment Management Inc.

Hanlon Investment Management Inc. raised its stake in The Home Depot, Inc. (NYSE:HD) by 23.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,241 shares of the home improvement retailer’s stock after buying an additional 235 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Home Depot were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Home Depot during the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC boosted its position in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. increased its position in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Finally, APG Asset Management N.V. raised its stake in Home Depot by 559.5% during the 4th quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer’s stock valued at $387,706,000 after acquiring an additional 875,591 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.0 %

NYSE:HD opened at $353.62 on Monday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market capitalization of $351.51 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business’s fifty day moving average price is $375.29 and its 200 day moving average price is $395.97.

Home Depot (NYSE:HD) last issued its 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. The company 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 firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued 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 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HD shares. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Truist Financial cut their target price on Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $434.08.

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.