Chung Wu Investment Group LLC Makes New $1.47 Million Investment in The Home Depot, Inc. (NYSE:HD)

Chung Wu Investment Group LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,773 shares of the home improvement retailer’s stock, valued at approximately $1,468,000. Home Depot comprises approximately 1.5% of Chung Wu Investment Group LLC’s portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. K.J. Harrison & Partners Inc increased its position in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Pensionfund Sabic grew its stake in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares during the period. Swedbank AB increased its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares in the last quarter. Wedmont Private Capital increased its position in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter valued at $1,793,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.3 %

Shares of HD opened at $386.82 on Thursday. The firm has a market capitalization of $384.25 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The business’s fifty day moving average price is $400.81 and its two-hundred day moving average price is $399.62.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the firm earned $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HD. Bank of America raised their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $436.50.

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.