The Home Depot, Inc. (NYSE:HD) Shares Purchased by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. boosted its position in The Home Depot, Inc. (NYSE:HD) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,178 shares of the home improvement retailer’s stock after purchasing an additional 38 shares during the period. 1620 Investment Advisors Inc.’s holdings in Home Depot were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HD. Raymond James Financial Inc. purchased a new position in shares of Home Depot during the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC increased its position in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Home Depot during the 3rd quarter worth approximately $336,231,000. FMR LLC increased its position in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, Amundi increased its position in Home Depot by 8.6% during the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after purchasing an additional 599,490 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research analyst reports. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their target price 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. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

Shares of HD opened at $355.31 on Friday. The firm has a market capitalization of $352.95 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 one year low of $323.77 and a one year high of $439.37. The stock’s fifty day moving average is $394.73 and its 200-day moving average is $398.78.

Home Depot (NYSE:HD) last released 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 firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.