NEOS Investment Management LLC Has $21.01 Million Stake in The Home Depot, Inc. (NYSE:HD)

NEOS Investment Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 29.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,014 shares of the home improvement retailer’s stock after purchasing an additional 12,428 shares during the quarter. NEOS Investment Management LLC’s holdings in Home Depot were worth $21,011,000 at the end of the most recent quarter.

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

Home Depot Stock Performance

Shares of HD stock opened at $362.01 on Thursday. The firm has a market cap of $359.61 billion, a PE ratio of 24.59, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company’s fifty day simple moving average is $391.94 and its 200-day simple moving average is $398.90. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 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 the consensus estimate of $39.15 billion. During the same period in the prior year, the business posted $2.82 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.85.

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.