Synergy Investment Management LLC Purchases Shares of 557 The Home Depot, Inc. (NYSE:HD)

Synergy Investment Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, HoldingsChannel reports. The fund acquired 557 shares of the home improvement retailer’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Proficio Capital Partners LLC grew its stake in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Home Depot in the third quarter worth $336,231,000. FMR LLC raised its stake in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after buying an additional 518,054 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its position in shares of Home Depot by 37,025.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock valued at $187,019,000 after acquiring an additional 479,485 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 1.9 %

NYSE HD opened at $389.03 on Tuesday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. 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 stock’s 50 day moving average is $401.29 and its two-hundred day moving average is $399.57. The company has a market capitalization of $386.45 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its 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 business 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 revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $2.82 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share 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. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HD. Barclays raised their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Evercore ISI raised their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler dropped their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average 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.