Horizon Investment Services LLC Takes $247,000 Position in The Home Depot, Inc. (NYSE:HD)

Horizon Investment Services LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 635 shares of the home improvement retailer’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc grew its position in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the period. Pensionfund Sabic grew its holdings in Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after buying an additional 3,800 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter valued at approximately $1,793,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Shares of Home Depot stock opened at $357.86 on Friday. The company has a market cap of $355.72 billion, a PE ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. The business has a 50 day moving average of $389.98 and a 200 day moving average of $398.60. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. Home Depot’s payout ratio is currently 61.66%.

Analysts Set New Price Targets

Several research firms have issued reports on HD. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $435.85.

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.