New Age Alpha Advisors LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

New Age Alpha Advisors LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8,807.1% in the 4th quarter, Holdings Channel reports. The fund owned 2,494 shares of the home improvement retailer’s stock after acquiring an additional 2,466 shares during the period. New Age Alpha Advisors LLC’s holdings in Home Depot were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth $32,000. Sellwood Investment Partners LLC acquired a new stake in Home Depot in the fourth quarter valued at $39,000. Finally, NewSquare Capital LLC boosted its stake in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HD shares. 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. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

HD opened at $366.95 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 market capitalization of $364.76 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a 50 day moving average price of $389.13 and a two-hundred day moving average price of $398.94. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.