Fourth Dimension Wealth LLC Takes $586,000 Position in The Home Depot, Inc. (NYSE:HD)

Fourth Dimension Wealth LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,507 shares of the home improvement retailer’s stock, valued at approximately $586,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Synergy Asset Management LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter worth approximately $28,000. Navigoe LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $32,000. Finally, Quarry LP grew its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 1.3%

Shares of NYSE:HD opened at $365.95 on Friday. The stock has a market cap of $363.77 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The business’s 50 day moving average is $359.62 and its 200 day moving average is $387.46.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the prior year, the firm posted $3.63 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.51%. Home Depot’s dividend payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

Several research firms recently commented on HD. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Mizuho reduced their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.77.

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.