ZEGA Investments LLC Invests $1.06 Million in The Home Depot, Inc. (NYSE:HD)

ZEGA Investments LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,557 shares of the home improvement retailer’s stock, valued at approximately $1,060,000.

A number of other hedge funds have also recently modified their holdings of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the 4th quarter valued at approximately $32,000. NewSquare Capital LLC raised its position in 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 purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the third quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.0 %

HD opened at $352.12 on Friday. The company has a market cap of $349.78 billion, a PE ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The business has a 50 day moving average price of $393.97 and a two-hundred day moving average price of $398.66. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS 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 during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter last year, the company earned $2.82 earnings per share. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.61%. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Robert W. Baird reduced their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target 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.