The Home Depot, Inc. (NYSE:HD) Shares Purchased by Elgethun Capital Management

Elgethun Capital Management raised its holdings in The Home Depot, Inc. (NYSE:HD) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,899 shares of the home improvement retailer’s stock after acquiring an additional 149 shares during the period. Elgethun Capital Management’s holdings in Home Depot were worth $1,128,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Home Depot in the fourth quarter valued at approximately $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot during the 4th quarter worth $2,212,546,000. Proficio Capital Partners LLC increased its holdings in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the last quarter. Finally, Amundi boosted its holdings in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after acquiring an additional 599,490 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HD shares. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective 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. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $353.78 on Monday. The company has a market cap of $351.67 billion, a PE ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a 50-day simple moving average of $384.89 and a 200 day simple moving average of $398.35. 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 announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the firm earned $2.82 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s payout ratio is 61.66%.

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.