Neo Ivy Capital Management Acquires New Holdings in The Home Depot, Inc. (NYSE:HD)

Neo Ivy Capital Management bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,632 shares of the home improvement retailer’s stock, valued at approximately $4,135,000. Home Depot makes up 0.8% of Neo Ivy Capital Management’s portfolio, making the stock its 20th largest holding.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Home Depot in the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC grew its holdings in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Home Depot during the 4th quarter worth $471,189,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HD shares. Mizuho reduced their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial increased their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a report on Tuesday. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a report on Tuesday. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Price Performance

Shares of HD opened at $365.95 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $363.77 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business has a 50-day moving average of $359.62 and a 200-day moving average of $387.46.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the business earned $3.63 earnings per share. Home Depot’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th 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 2.51%. Home Depot’s dividend payout ratio (DPR) is 62.42%.

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.