Holcombe Financial Inc. Invests $929,000 in The Home Depot, Inc. (NYSE:HD)

Holcombe Financial Inc. purchased a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,388 shares of the home improvement retailer’s stock, valued at approximately $929,000. Home Depot accounts for about 0.8% of Holcombe Financial Inc.’s investment portfolio, making the stock its 16th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of 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 during the last quarter. Morse Asset Management Inc lifted its holdings in shares of Home Depot by 12.9% during the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock valued at $12,357,000 after buying an additional 3,493 shares during the period. Invst LLC grew its holdings in shares of Home Depot by 1.7% in the third quarter. Invst LLC now owns 6,710 shares of the home improvement retailer’s stock worth $2,719,000 after acquiring an additional 115 shares during the period. McIlrath & Eck LLC increased its position in Home Depot by 4.5% during the third quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer’s stock valued at $1,089,000 after acquiring an additional 115 shares during the last quarter. Finally, Tudor Financial Inc. purchased a new position in Home Depot in the third quarter worth about $1,027,000. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada reduced their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Truist Financial reduced their target price on Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Stock Performance

Shares of Home Depot stock opened at $354.85 on Friday. 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 stock’s fifty day moving average price is $370.53 and its 200-day moving average price is $394.69. The firm has a market cap of $352.73 billion, a P/E ratio of 24.11, a P/E/G 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.

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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the business posted $2.82 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, 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 business 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 represents a $9.20 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.