Fusion Capital LLC Acquires 511 Shares of The Home Depot, Inc. (NYSE:HD)

Fusion Capital LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,007 shares of the home improvement retailer’s stock after purchasing an additional 511 shares during the period. Home Depot makes up about 3.1% of Fusion Capital LLC’s holdings, making the stock its 11th biggest position. Fusion Capital LLC’s holdings in Home Depot were worth $7,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AMF Tjanstepension AB boosted its holdings in Home Depot by 10.8% in the 3rd quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after purchasing an additional 16,650 shares during the period. SYM FINANCIAL Corp boosted its stake in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the period. Wealth Group Ltd. purchased a new position in Home Depot during the third quarter worth about $217,000. Swedbank AB increased its stake in Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Finally, Hedeker Wealth LLC raised its holdings in shares of Home Depot by 0.9% in the 3rd quarter. Hedeker Wealth LLC now owns 4,868 shares of the home improvement retailer’s stock valued at $1,972,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays raised their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

HD opened at $390.44 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $387.85 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock’s 50 day moving average price is $401.27 and its 200-day moving average price is $398.37. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued 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 net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm earned $2.82 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.36%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

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.