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

Ring Mountain Capital LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, Holdings Channel reports. The fund bought 881 shares of the home improvement retailer’s stock, valued at approximately $343,000.

A number of other large investors have also added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the third quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Home Depot in the 4th quarter worth 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 equities research analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reduced their price objective 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. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

Home Depot stock opened at $389.03 on Tuesday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. 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 firm has a 50-day moving average price of $401.29 and a 200-day moving average price of $399.57. The firm has a market capitalization 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.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

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

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.