580 Shares in The Home Depot, Inc. (NYSE:HD) Bought by Scratch Capital LLC

Scratch Capital LLC bought a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 580 shares of the home improvement retailer’s stock, valued at approximately $226,000. Home Depot accounts for about 0.3% of Scratch Capital LLC’s holdings, making the stock its 28th biggest position.

Several other hedge funds also recently made changes to their positions in the company. HFR Wealth Management LLC increased its position in Home Depot by 9.9% during the 4th quarter. HFR Wealth Management LLC now owns 1,471 shares of the home improvement retailer’s stock valued at $572,000 after purchasing an additional 132 shares during the period. Global Strategic Investment Solutions LLC increased its position in Home Depot by 13.6% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 2,622 shares of the home improvement retailer’s stock valued at $1,020,000 after purchasing an additional 314 shares during the period. Unified Investment Management purchased a new position in Home Depot during the 4th quarter valued at $946,000. Bravias Capital Group LLC purchased a new position in Home Depot during the 4th quarter valued at $257,000. Finally, Kelly Financial Group LLC purchased a new position in Home Depot during the 4th quarter valued at $272,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HD has been the topic of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Evercore ISI boosted their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada dropped their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler dropped their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

HD opened at $389.03 on Tuesday. 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 stock has a market capitalization of $386.45 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05. The company’s 50-day simple moving average is $401.29 and its two-hundred day simple moving average is $399.57. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

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, beating the consensus estimate 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 net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.36%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

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.