Xponance Inc. Raises Position in The Home Depot, Inc. (NYSE:HD)

Xponance Inc. increased its holdings in The Home Depot, Inc. (NYSE:HD) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,145 shares of the home improvement retailer’s stock after purchasing an additional 4,290 shares during the quarter. Home Depot accounts for 0.8% of Xponance Inc.’s investment portfolio, making the stock its 17th biggest position. Xponance Inc.’s holdings in Home Depot were worth $86,023,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Home Depot in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD opened at $354.06 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a 50 day simple moving average of $396.73 and a two-hundred day simple moving average of $399.54. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market cap of $351.71 billion, a P/E ratio of 24.05, a PEG 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 for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm 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 business earned $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $436.50.

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.