Cottage Street Advisors LLC Raises Position in The Home Depot, Inc. (NYSE:HD)

Cottage Street Advisors LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,249 shares of the home improvement retailer’s stock after acquiring an additional 33 shares during the period. Home Depot comprises about 2.7% of Cottage Street Advisors LLC’s holdings, making the stock its 12th largest holding. Cottage Street Advisors LLC’s holdings in Home Depot were worth $5,154,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SYM FINANCIAL Corp raised its stake in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after purchasing an additional 141,915 shares during the last quarter. United Bank boosted its stake in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares in the last quarter. Algert Global LLC bought a new stake in Home Depot during the 3rd quarter valued at about $649,000. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in Home Depot by 3.4% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 69,668 shares of the home improvement retailer’s stock worth $28,229,000 after buying an additional 2,295 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent analyst reports. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 0.8 %

Shares of HD stock opened at $360.90 on Wednesday. The stock has a fifty day simple moving average of $392.82 and a two-hundred day simple moving average of $399.16. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market capitalization of $358.50 billion, a PE ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. 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 posted its quarterly earnings results 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 return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the firm earned $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. 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.