SevenBridge Financial Group LLC Has $4.10 Million Position in The Home Depot, Inc. (NYSE:HD)

SevenBridge Financial Group LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,839 shares of the home improvement retailer’s stock after purchasing an additional 1,004 shares during the period. SevenBridge Financial Group LLC’s holdings in Home Depot were worth $4,097,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SYM FINANCIAL Corp increased its position in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after acquiring an additional 289 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after purchasing an additional 141,915 shares during the period. United Bank raised its position in shares of Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after buying an additional 181 shares during the last quarter. Atom Investors LP acquired a new stake in Home Depot during the third quarter worth about $2,246,000. Finally, Concentric Capital Strategies LP increased its stake in Home Depot by 59.0% during the third quarter. Concentric Capital Strategies LP now owns 3,464 shares of the home improvement retailer’s stock valued at $1,404,000 after acquiring an additional 1,286 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HD shares. Truist Financial decreased their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Price Performance

Shares of HD opened at $364.96 on Wednesday. The company has a 50 day moving average of $388.06 and a 200-day moving average of $398.84. 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 stock has a market capitalization of $362.78 billion, a P/E ratio of 24.79, a P/E/G ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 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.