Bay Capital Advisors LLC Buys Shares of 798 The Home Depot, Inc. (NYSE:HD)

Bay Capital Advisors LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 798 shares of the home improvement retailer’s stock, valued at approximately $310,000.

A number of other institutional investors have also bought and sold shares of HD. POM Investment Strategies LLC lifted its holdings in Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. increased its stake in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares during the last quarter. Insight Inv LLC raised its stake in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares in the last quarter. Marino Stram & Associates LLC raised its position in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after buying an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC lifted its stake in Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several recent analyst reports. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Price Performance

HD stock opened at $363.97 on Tuesday. 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 stock has a market cap of $361.55 billion, a PE ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a 50-day moving average price of $393.46 and a 200 day moving average price of $399.16.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase 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 2.53%. Home Depot’s dividend payout ratio (DPR) 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.