Hobbs Group Advisors LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Hobbs Group Advisors LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,205 shares of the home improvement retailer’s stock after buying an additional 84 shares during the period. Hobbs Group Advisors LLC’s holdings in Home Depot were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the fourth quarter worth about $32,000. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $39,000. Finally, NewSquare Capital LLC boosted its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HD shares. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot 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. Wells Fargo & Company increased their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Nine 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Price Performance

HD stock opened at $357.86 on Friday. The firm has a 50 day moving average of $389.98 and a 200-day moving average of $398.60. The company has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 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. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 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.