Moment Partners LLC Purchases New Holdings in The Home Depot, Inc. (NYSE:HD)

Moment Partners LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,055 shares of the home improvement retailer’s stock, valued at approximately $410,000.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Home Depot during the fourth quarter worth about $2,212,546,000. Proficio Capital Partners LLC lifted its stake 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 worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Home Depot in the third quarter valued at approximately $336,231,000. Finally, Amundi increased its holdings in shares of Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $362.01 on Thursday. The company has a market cap of $359.61 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a fifty day simple moving average of $391.94 and a two-hundred day simple moving average of $398.90.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during 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 revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HD shares. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. HSBC raised shares of 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 research report on Wednesday, February 26th. Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine investment 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 company. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $435.85.

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.