Redwood Park Advisors LLC Buys Shares of 273 The Home Depot, Inc. (NYSE:HD)

Redwood Park Advisors LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 273 shares of the home improvement retailer’s stock, valued at approximately $106,000.

Several other hedge funds have also made changes to their positions in HD. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $5,032,910,000. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its stake in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. increased its stake in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of Home Depot by 559.5% during the fourth quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer’s stock worth $387,706,000 after buying an additional 875,591 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada dropped 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. Finally, Truist Financial dropped their price target on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

Home Depot Price Performance

Home Depot stock opened at $354.24 on Thursday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. 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 business has a fifty day moving average of $377.57 and a two-hundred day moving average of $396.60. The company has a market cap of $352.13 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Home Depot Company 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.