Clearstead Trust LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Clearstead Trust LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 76.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,652 shares of the home improvement retailer’s stock after purchasing an additional 2,873 shares during the period. Clearstead Trust LLC’s holdings in Home Depot were worth $2,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HD. Raymond James Financial Inc. acquired a new position in Home Depot during the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Home Depot in the 3rd quarter valued at approximately $336,231,000. FMR LLC increased its position in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Finally, Amundi increased its position in shares of Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.1 %

HD stock opened at $351.16 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The stock has a market capitalization of $348.83 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 company has a fifty day moving average of $397.43 and a 200-day moving average of $399.26.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HD shares. Wells Fargo & Company increased their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.