The Home Depot, Inc. (NYSE:HD) Stock Position Boosted by Keystone Financial Group

Keystone Financial Group grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 71.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,430 shares of the home improvement retailer’s stock after buying an additional 4,346 shares during the quarter. Keystone Financial Group’s holdings in Home Depot were worth $4,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in HD. Norges Bank acquired a new position in Home Depot during the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC grew its stake 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 worth $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Vanguard Group Inc. lifted its stake in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in Home Depot by 559.5% during the fourth quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer’s stock valued at $387,706,000 after purchasing an additional 875,591 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird reduced their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial reduced their price target on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Price Performance

NYSE HD opened at $353.62 on Friday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock’s 50-day moving average is $375.29 and its two-hundred day moving average is $395.97. The firm has a market cap of $351.51 billion, a P/E ratio of 24.02, 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 posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the company earned $2.82 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s payout ratio is currently 61.66%.

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.