Purkiss Capital Advisors LLC Invests $698,000 in The Home Depot, Inc. (NYSE:HD)

Purkiss Capital Advisors LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,795 shares of the home improvement retailer’s stock, valued at approximately $698,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the 3rd quarter worth $41,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HD shares. Royal Bank of Canada reduced their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

NYSE HD opened at $396.69 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a fifty day simple moving average of $401.36 and a 200 day simple moving average of $399.06. 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 company has a market cap of $394.06 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 earnings per share. On average, sell-side analysts predict 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 given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

About Home Depot

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.