The Home Depot, Inc. (NYSE:HD) Position Lifted by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 34.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,359 shares of the home improvement retailer’s stock after buying an additional 2,886 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Home Depot were worth $4,419,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $32,000. NewSquare Capital LLC lifted its position in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Home Depot in the 3rd quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $374.13 on Tuesday. The firm’s 50 day moving average is $399.91 and its 200-day moving average is $400.08. The stock has a market capitalization of $371.65 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

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 the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for 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 business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS 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 issued a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HD shares. Truist Financial cut their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Evercore ISI lifted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Nine 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 stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average 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.