HBK Sorce Advisory LLC Has $6.39 Million Position in The Home Depot, Inc. (NYSE:HD)

HBK Sorce Advisory LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,418 shares of the home improvement retailer’s stock after purchasing an additional 381 shares during the period. HBK Sorce Advisory LLC’s holdings in Home Depot were worth $6,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.9 %

HD stock opened at $364.82 on Thursday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s 50 day moving average is $399.01 and its 200-day moving average is $399.78. The firm has a market capitalization of $362.39 billion, a PE ratio of 24.78, a P/E/G ratio of 4.03 and a beta of 1.09.

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, 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 company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wedbush reissued an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler cut their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.