Retirement Planning Group LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Retirement Planning Group LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,690 shares of the home improvement retailer’s stock after purchasing an additional 312 shares during the quarter. Retirement Planning Group LLC’s holdings in Home Depot were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the fourth quarter valued at $28,000. Navigoe LLC purchased a new stake in Home Depot during the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the fourth quarter valued at $32,000. Finally, Quarry LP increased its position in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $365.95 on Friday. 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 capitalization of $363.77 billion, a P/E ratio of 24.86, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The business’s 50-day moving average is $359.62 and its 200 day moving average is $387.46.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.51%. Home Depot’s dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research reports. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Tuesday. Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, TD Securities reissued a “buy” rating and set a $470.00 price target on shares of Home Depot in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $426.77.

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.