Ascent Capital Management LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Ascent Capital Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 628 shares of the home improvement retailer’s stock, valued at approximately $244,000.

A number of other institutional investors have also recently added to or reduced their stakes in HD. Raymond James Financial Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Home Depot during the third quarter valued at $336,231,000. FMR LLC increased its stake in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Finally, Amundi raised its holdings in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after purchasing an additional 599,490 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $351.16 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a fifty day simple moving average of $397.43 and a 200 day simple moving average of $399.44. 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 cap of $348.83 billion, a P/E ratio of 23.86, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict 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. 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 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

Several research analysts have recently commented on HD shares. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Truist Financial decreased their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

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.