OneAscent Financial Services LLC Buys 2,510 Shares of The Home Depot, Inc. (NYSE:HD)

OneAscent Financial Services LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 71.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,014 shares of the home improvement retailer’s stock after acquiring an additional 2,510 shares during the quarter. OneAscent Financial Services LLC’s holdings in Home Depot were worth $2,339,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HD. Vanguard Group Inc. raised its stake in shares of 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 worth $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC raised its position in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after buying an additional 257,036 shares during the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC raised its holdings in Home Depot by 1.3% in the 4th 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. Finally, Alliancebernstein L.P. lifted its position in Home Depot by 5.5% during the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock valued at $3,521,173,000 after purchasing an additional 468,203 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $364.96 on Wednesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50 day simple moving average is $388.06 and its 200-day simple moving average is $398.84. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market capitalization of $362.78 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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 net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine 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 company’s stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

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.