HFR Wealth Management LLC Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

HFR Wealth Management LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,471 shares of the home improvement retailer’s stock after purchasing an additional 132 shares during the period. HFR Wealth Management LLC’s holdings in Home Depot were worth $572,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the third quarter worth $41,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.9 %

Shares of NYSE:HD opened at $389.03 on Tuesday. The stock’s 50-day moving average price is $401.29 and its 200-day moving average price is $399.57. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The stock has a market capitalization of $386.45 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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, beating 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 firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the firm earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. 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 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HD shares. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Mizuho increased their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Evercore ISI upped their price target 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, Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.