Joseph Group Capital Management Increases Stake in The Home Depot, Inc. (NYSE:HD)

Joseph Group Capital Management raised its holdings in The Home Depot, Inc. (NYSE:HD) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,026 shares of the home improvement retailer’s stock after buying an additional 1,103 shares during the period. Home Depot makes up approximately 1.8% of Joseph Group Capital Management’s portfolio, making the stock its 14th largest position. Joseph Group Capital Management’s holdings in Home Depot were worth $4,678,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. POM Investment Strategies LLC raised its position in 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 worth $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. grew its position in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares during the last quarter. Insight Inv LLC grew its holdings in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC increased its position in Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC raised its stake in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.3 %

Shares of NYSE HD opened at $357.86 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s 50 day moving average price is $389.98 and its two-hundred day moving average price is $398.80. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market capitalization of $355.72 billion, a P/E ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted 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. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HD shares. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company 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 for the company in a research note on Wednesday, February 26th. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Nine equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.