Barnett & Company Inc. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Barnett & Company Inc. purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,995 shares of the home improvement retailer’s stock, valued at approximately $776,000.

Several other hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth approximately $32,000. NewSquare Capital LLC lifted its stake 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 valued at $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Down 1.0 %

NYSE HD opened at $352.12 on Monday. The company has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock’s 50-day moving average price is $393.97 and its 200-day moving average price is $399.14. 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 issued its quarterly 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the company earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current 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 $2.30 dividend. 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 2.61%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Home Depot 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.