Proficio Capital Partners LLC Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Proficio Capital Partners LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 21,394.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,039,862 shares of the home improvement retailer’s stock after buying an additional 2,030,372 shares during the quarter. Proficio Capital Partners LLC owned 0.21% of Home Depot worth $793,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HD shares. Truist Financial lowered their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday. Royal Bank of Canada decreased their price target 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. Finally, Barclays increased their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

HD opened at $390.40 on Thursday. The stock has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company has a fifty day moving average of $401.17 and a 200 day moving average of $398.42. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the company posted $2.82 EPS. The business’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

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.