The Home Depot, Inc. (NYSE:HD) Stake Boosted by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. increased its stake in The Home Depot, Inc. (NYSE:HD) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,779 shares of the home improvement retailer’s stock after purchasing an additional 1,807 shares during the quarter. Home Depot makes up 0.9% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 27th largest holding. Lee Danner & Bass Inc.’s holdings in Home Depot were worth $11,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HD. SYM FINANCIAL Corp increased its stake in Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares in the last quarter. Swedbank AB grew its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares in the last quarter. Principal Financial Group Inc. grew its stake in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares in the last quarter. United Bank grew its stake in Home Depot by 4.2% during the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after acquiring an additional 181 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in Home Depot by 8.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 100,695 shares of the home improvement retailer’s stock valued at $40,801,000 after acquiring an additional 7,712 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Performance

Shares of NYSE:HD opened at $355.31 on Friday. The business’s fifty day moving average price is $394.73 and its two-hundred day moving average price is $398.78. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a market capitalization of $352.95 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.13 EPS 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. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. 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 dividend payout ratio is 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.