CreativeOne Wealth LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

CreativeOne Wealth LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 13.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,150 shares of the home improvement retailer’s stock after acquiring an additional 2,808 shares during the quarter. CreativeOne Wealth LLC’s holdings in Home Depot were worth $9,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Vanguard Group Inc. lifted its position in Home Depot by 0.9% in 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 acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC boosted its position in shares of Home Depot by 1.3% in 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 period. Finally, Alliancebernstein L.P. increased its position in Home Depot by 5.5% during the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock worth $3,521,173,000 after buying an additional 468,203 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $353.62 on Monday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market capitalization of $351.51 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm’s fifty day simple moving average is $375.29 and its 200 day simple moving average is $395.97.

Home Depot (NYSE:HD) last issued 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. 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%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. As a group, equities research analysts expect 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. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is 61.66%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HD shares. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Home Depot 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. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price objective 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. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $434.08.

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.