Clarity Wealth Development LLC Acquires New Shares in The Home Depot, Inc. (NYSE:HD)

Clarity Wealth Development LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 562 shares of the home improvement retailer’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. POM Investment Strategies LLC boosted its stake in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares in the last quarter. Center for Financial Planning Inc. raised its holdings in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares during the last quarter. Insight Inv LLC raised its holdings in shares of Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares during the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC raised its holdings in shares of Home Depot by 0.5% in 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 acquiring an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.8 %

Shares of Home Depot stock opened at $354.06 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 business’s 50 day simple moving average is $396.73 and its 200-day simple moving average is $399.54. The stock has a market capitalization of $351.71 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve 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 for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Analysts Set New Price Targets

HD has been the subject of several analyst reports. Robert W. Baird dropped their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.