Cushing Capital Partners LLC Makes New $779,000 Investment in The Home Depot, Inc. (NYSE:HD)

Cushing Capital Partners LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,003 shares of the home improvement retailer’s stock, valued at approximately $779,000.

Several other institutional investors have also recently bought and sold shares of the business. Inspire Advisors LLC raised its stake in Home Depot by 23.6% during the fourth quarter. Inspire Advisors LLC now owns 2,360 shares of the home improvement retailer’s stock worth $918,000 after acquiring an additional 451 shares in the last quarter. Donaldson Capital Management LLC increased its stake in shares of Home Depot by 0.5% in the fourth quarter. Donaldson Capital Management LLC now owns 195,585 shares of the home improvement retailer’s stock valued at $76,081,000 after buying an additional 961 shares during the period. Founders Financial Alliance LLC increased its stake in shares of Home Depot by 4.6% in the fourth quarter. Founders Financial Alliance LLC now owns 5,277 shares of the home improvement retailer’s stock valued at $2,053,000 after buying an additional 231 shares during the period. Miller Financial Services LLC acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $307,000. Finally, Sollinda Capital Management LLC increased its stake in shares of Home Depot by 2.5% in the fourth quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer’s stock valued at $434,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HD. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

Shares of HD opened at $374.13 on Tuesday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The business’s fifty day moving average is $399.91 and its 200 day moving average is $400.08. 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 stock has a market cap of $371.65 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued 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 company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $2.82 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.46%. Home Depot’s dividend payout ratio (DPR) is currently 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.