Barnett & Company Inc. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Barnett & Company Inc. purchased a new position in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,995 shares of the home improvement retailer’s stock, valued at approximately $776,000.

Several other hedge funds also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth about $32,000. NewSquare Capital LLC boosted its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter valued at $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of NYSE HD opened at $352.12 on Monday. The company has a market cap of $349.78 billion, a P/E ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The firm’s fifty day moving average is $393.97 and its two-hundred day moving average is $399.14. 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 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is 61.66%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler dropped their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird lowered their target price 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. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $436.50.

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.