Ashton Thomas Private Wealth LLC Has $9.24 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Ashton Thomas Private Wealth LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 19.5% in the fourth quarter, HoldingsChannel reports. The firm owned 23,758 shares of the home improvement retailer’s stock after purchasing an additional 3,873 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Home Depot were worth $9,242,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Home Depot in the 4th quarter valued at about $2,212,546,000. Proficio Capital Partners LLC increased its position in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Home Depot in the 3rd quarter valued at about $336,231,000. FMR LLC increased its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Home Depot by 295.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after acquiring an additional 518,054 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of several research reports. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Robert W. Baird lowered 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. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $381.48 on Friday. The company’s fifty day simple moving average is $400.54 and its 200-day simple moving average is $399.49. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $378.95 billion, a PE ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. 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 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio 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.