The Home Depot, Inc. (NYSE:HD) Shares Purchased by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 42.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,161 shares of the home improvement retailer’s stock after acquiring an additional 949 shares during the period. Home Depot accounts for approximately 0.6% of Flynn Zito Capital Management LLC’s portfolio, making the stock its 29th largest position. Flynn Zito Capital Management LLC’s holdings in Home Depot were worth $1,229,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday. Stifel Nicolaus increased their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

NYSE:HD opened at $390.40 on Thursday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a 50 day simple moving average of $401.17 and a 200-day simple moving average of $398.42. The firm has a market cap of $387.81 billion, a PE ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Increases Dividend

The firm 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 $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

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.