Prestige Wealth Management Group LLC Boosts Position in The Home Depot, Inc. (NYSE:HD)

Prestige Wealth Management Group LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,686 shares of the home improvement retailer’s stock after purchasing an additional 128 shares during the period. Prestige Wealth Management Group LLC’s holdings in Home Depot were worth $2,601,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HD. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $41,000. Finally, Marshall Investment Management LLC purchased a new stake in Home Depot in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $363.97 on Tuesday. The business’s 50-day simple moving average is $393.46 and its 200 day simple moving average is $399.16. The company has a market cap of $361.55 billion, a P/E ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09. 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.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 the consensus estimate of $39.15 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share 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 paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. Home Depot’s payout ratio is 61.66%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HD shares. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their price target 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. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

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.