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

Berbice Capital Management LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,168 shares of the home improvement retailer’s stock, valued at approximately $4,344,000. Home Depot accounts for approximately 3.5% of Berbice Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares during the period. Pegasus Asset Management Inc. raised its position in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares in the last quarter. Pensionfund Sabic raised its position in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Swedbank AB raised its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital raised its position in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $414.53 on Friday. The stock’s fifty day moving average is $407.14 and its two-hundred day moving average is $390.16. The firm has a market capitalization of $411.77 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the prior year, the company posted $3.81 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Evercore ISI boosted their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last quarter. Insiders own 0.10% of the company’s stock.

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.