The Home Depot, Inc. (NYSE:HD) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,434 shares of the home improvement retailer’s stock after purchasing an additional 43 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Home Depot were worth $4,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Synergy Asset Management LLC acquired a new stake in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot in the third quarter worth $41,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HD shares. Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial lifted their price target on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Evercore ISI boosted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $433.44.

Home Depot Stock Up 2.9 %

Shares of Home Depot stock opened at $393.52 on Wednesday. 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 Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The business’s fifty day moving average price is $401.23 and its two-hundred day moving average price is $398.48. The company has a market capitalization of $390.90 billion, a P/E ratio of 26.73, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.34%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

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.