Flaharty Asset Management LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Flaharty Asset Management LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,528 shares of the home improvement retailer’s stock after purchasing an additional 251 shares during the quarter. Flaharty Asset Management LLC’s holdings in Home Depot were worth $983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jacobi Capital Management LLC grew its holdings in Home Depot by 2.3% in the fourth quarter. Jacobi Capital Management LLC now owns 8,374 shares of the home improvement retailer’s stock worth $3,257,000 after purchasing an additional 191 shares during the period. Metis Global Partners LLC grew its holdings in Home Depot by 0.9% in the fourth quarter. Metis Global Partners LLC now owns 59,473 shares of the home improvement retailer’s stock worth $23,134,000 after purchasing an additional 532 shares during the period. Xcel Wealth Management LLC grew its holdings in Home Depot by 9.4% in the fourth quarter. Xcel Wealth Management LLC now owns 29,184 shares of the home improvement retailer’s stock worth $11,352,000 after purchasing an additional 2,510 shares during the period. Providence First Trust Co grew its holdings in Home Depot by 535.3% in the fourth quarter. Providence First Trust Co now owns 3,494 shares of the home improvement retailer’s stock worth $1,359,000 after purchasing an additional 2,944 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in Home Depot in the fourth quarter worth about $193,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 1.6 %

Shares of HD stock opened at $396.69 on Friday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market cap of $394.06 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. 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 company has a 50 day simple moving average of $401.36 and a two-hundred day simple moving average of $398.72.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 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 company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 earnings per share. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed 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 boost 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 2.32%. Home Depot’s dividend payout ratio is 61.66%.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. Truist Financial dropped their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays upped their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.