Brooklyn FI LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Brooklyn FI LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,665 shares of the home improvement retailer’s stock, valued at approximately $2,312,000.

Several other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares during the last quarter. FMR LLC boosted its position in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Home Depot by 5.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock worth $3,253,952,000 after buying an additional 409,890 shares during the last quarter. Finally, Amundi increased its position in Home Depot by 8.6% during the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after buying an additional 599,490 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 1.3 %

Shares of HD opened at $349.39 on Wednesday. The firm has a market cap of $347.07 billion, a P/E ratio of 23.74, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock’s 50 day moving average is $396.03 and its two-hundred day moving average is $399.40. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results 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. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 EPS. Analysts predict 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 declared 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 represents a $9.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Wall Street Analyst Weigh In

HD has been the subject of several recent analyst reports. Guggenheim reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Royal Bank of Canada cut their price target 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. Piper Sandler decreased their price target 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. Finally, Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.