Prestige Wealth Management Group LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Prestige Wealth Management Group LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,686 shares of the home improvement retailer’s stock after purchasing an additional 128 shares during the period. Prestige Wealth Management Group LLC’s holdings in Home Depot were worth $2,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of HD. Raymond James Financial Inc. acquired a new position in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC raised its holdings in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. lifted its stake in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Home Depot during the 3rd quarter valued at about $336,231,000. Finally, FMR LLC increased its stake in Home Depot by 10.1% during the third 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 during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 3.7 %

NYSE HD opened at $363.97 on Tuesday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a 50-day moving average price of $393.46 and a 200 day moving average price of $399.16. The stock has a market capitalization of $361.55 billion, a P/E ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. 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 posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $2.82 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Company 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.