Leigh Baldwin & CO. LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Leigh Baldwin & CO. LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,965 shares of the home improvement retailer’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Armis Advisers LLC bought a new position in Home Depot during the fourth quarter worth about $2,272,000. Polar Asset Management Partners Inc. bought a new stake in Home Depot during the 4th quarter valued at $20,616,000. Instrumental Wealth LLC raised its holdings in Home Depot by 7.0% during the 4th quarter. Instrumental Wealth LLC now owns 597 shares of the home improvement retailer’s stock valued at $230,000 after acquiring an additional 39 shares during the period. Hall Capital Management Co. Inc. bought a new stake in Home Depot during the 4th quarter valued at $3,384,000. Finally, Liberty Square Wealth Partners LLC bought a new stake in Home Depot during the 4th quarter valued at $337,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.8%

Shares of Home Depot stock opened at $363.17 on Friday. 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 50-day moving average of $359.90 and a 200 day moving average of $387.19. The firm has a market cap of $361.00 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 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 during the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the firm earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. Home Depot’s dividend payout ratio is currently 62.42%.

Analysts Set New Price Targets

Several brokerages have commented on HD. Jefferies Financial Group cut their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Truist Financial raised their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. DA Davidson decreased their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Gordon Haskett upped their target price on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. 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. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average 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.