Scratch Capital LLC Takes $226,000 Position in The Home Depot, Inc. (NYSE:HD)

Scratch Capital LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, Holdings Channel reports. The fund purchased 580 shares of the home improvement retailer’s stock, valued at approximately $226,000. Home Depot accounts for about 0.3% of Scratch Capital LLC’s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the 3rd quarter worth approximately $41,000. Finally, Marshall Investment Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.9 %

Shares of HD opened at $389.03 on Tuesday. The company has a market cap of $386.45 billion, a PE ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05. The business has a fifty day moving average of $401.29 and a 200 day moving average of $399.57. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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 was up 14.1% on a year-over-year basis. During the same period last year, the company earned $2.82 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Mizuho increased their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock 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.