Lakeshore Financial Planning Inc. Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Lakeshore Financial Planning Inc. lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,627 shares of the home improvement retailer’s stock after buying an additional 55 shares during the period. Home Depot comprises 0.3% of Lakeshore Financial Planning Inc.’s investment portfolio, making the stock its 27th biggest holding. Lakeshore Financial Planning Inc.’s holdings in Home Depot were worth $633,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HD. Geode Capital Management LLC lifted its stake in shares of Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Fisher Asset Management LLC lifted its position in Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after purchasing an additional 125,441 shares during the period. FMR LLC lifted its position in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Home Depot by 5.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares during the last quarter. Finally, Amundi lifted its holdings in shares of 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 purchasing an additional 599,490 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler cut their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird decreased 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 note on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Nine equities research 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, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Up 0.5 %

Shares of NYSE:HD opened at $355.31 on Friday. The business has a 50-day moving average price of $394.73 and a 200 day moving average price of $398.78. 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 company has a market capitalization of $352.95 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 4.03 and a beta of 1.09. 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 released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.82 EPS. Sell-side analysts expect 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 will be paid on Thursday, March 27th. Shareholders 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 of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.59%. Home Depot’s payout ratio is 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.