Proficio Capital Partners LLC Purchases 2,030,372 Shares of The Home Depot, Inc. (NYSE:HD)

Proficio Capital Partners LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 21,394.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,039,862 shares of the home improvement retailer’s stock after acquiring an additional 2,030,372 shares during the period. Proficio Capital Partners LLC’s holdings in Home Depot were worth $793,486,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the 3rd quarter valued at about $41,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Home Depot during the 4th quarter valued at about $41,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HD shares. Guggenheim reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Barclays boosted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Down 0.7 %

Shares of Home Depot stock opened at $390.40 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.31 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 firm has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The firm’s 50 day simple moving average is $401.17 and its two-hundred day simple moving average is $398.42.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. Home Depot’s dividend payout ratio is presently 61.14%.

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.