Promus Capital LLC Buys New Position in The Home Depot, Inc. (NYSE:HD)

Promus Capital LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 144 shares of the home improvement retailer’s stock, valued at approximately $56,000.

Several other large investors also recently added to or reduced their stakes in HD. Proficio Capital Partners LLC grew its position in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Home Depot during the third quarter valued at approximately $336,231,000. FMR LLC grew its position in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after buying an additional 518,054 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in Home Depot by 37,025.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock valued at $187,019,000 after buying an additional 479,485 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Mizuho upped their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus upped their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Piper Sandler dropped their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

Home Depot stock opened at $386.82 on Thursday. The company has a market cap of $384.25 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.03 and a beta of 1.05. The firm’s fifty day moving average is $400.81 and its 200 day moving average is $399.62. 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 Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

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. 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 for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.38%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio 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.