Millstone Evans Group LLC Purchases Shares of 1,257 The Home Depot, Inc. (NYSE:HD)

Millstone Evans Group LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,257 shares of the home improvement retailer’s stock, valued at approximately $489,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $32,000. NewSquare Capital LLC raised its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter worth about $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE:HD opened at $352.12 on Friday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business’s 50 day moving average price is $393.97 and its 200-day moving average price is $398.66. The firm has a market capitalization of $349.78 billion, a PE ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last issued 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. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $2.82 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change 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 2.61%. 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 upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. HSBC upgraded 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 research note on Wednesday, February 26th. Finally, Truist Financial reduced their price objective 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. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

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.