Townsend Asset Management Corp NC ADV Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Townsend Asset Management Corp NC ADV raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,690 shares of the home improvement retailer’s stock after purchasing an additional 30 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Home Depot were worth $1,824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. 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. NewSquare Capital LLC raised its position in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at about $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.3 %

NYSE HD opened at $386.82 on Thursday. The firm has a 50 day simple moving average of $400.81 and a 200-day simple moving average of $399.62. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $384.25 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 last year, the firm posted $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.38%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HD. 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 research report on Wednesday, February 26th. Evercore ISI increased their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot 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.