Vivaldi Capital Management LP Buys 981 Shares of The Home Depot, Inc. (NYSE:HD)

Vivaldi Capital Management LP increased its stake in The Home Depot, Inc. (NYSE:HD) by 43.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,251 shares of the home improvement retailer’s stock after purchasing an additional 981 shares during the quarter. Vivaldi Capital Management LP’s holdings in Home Depot were worth $1,381,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. K.J. Harrison & Partners Inc raised its holdings in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares during the period. Disciplined Investors L.L.C. bought a new stake in Home Depot during the fourth quarter valued at about $409,000. JPL Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at about $3,193,000. Finally, Umpqua Bank raised its holdings in Home Depot by 26.5% during the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock valued at $2,425,000 after acquiring an additional 1,294 shares during the period. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on HD shares. Robert W. Baird decreased their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $430.32.

Home Depot Stock Performance

Shares of NYSE:HD opened at $380.74 on Monday. The company has a market capitalization of $378.46 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. 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 firm has a 50 day moving average of $358.12 and a 200 day moving average of $387.95.

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, topping analysts’ consensus estimates of $3.04 by $0.09. The company 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%. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.42%. Home Depot’s dividend payout ratio is presently 61.66%.

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.