Synergy Investment Management LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Synergy Investment Management LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 557 shares of the home improvement retailer’s stock, valued at approximately $217,000.

Several other hedge funds also recently added to or reduced their stakes in HD. SYM FINANCIAL Corp grew its position in shares of Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares during the period. Wealth Group Ltd. purchased a new stake in shares of Home Depot during the third quarter worth approximately $217,000. Swedbank AB grew its holdings in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares in the last quarter. Optas LLC grew its stake in Home Depot by 14.3% during the 3rd quarter. Optas LLC now owns 2,076 shares of the home improvement retailer’s stock valued at $841,000 after acquiring an additional 260 shares in the last quarter. Finally, Private Wealth Partners LLC increased its holdings in shares of Home Depot by 3.2% in the third quarter. Private Wealth Partners LLC now owns 43,941 shares of the home improvement retailer’s stock valued at $17,805,000 after purchasing an additional 1,374 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 1.9 %

Shares of Home Depot stock opened at $389.03 on Tuesday. The stock has a market cap of $386.45 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 company has a 50-day moving average of $401.29 and a two-hundred day moving average of $399.57. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company earned $2.82 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HD shares. Truist Financial cut their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays upped their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot 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.