The Home Depot, Inc. (NYSE:HD) Shares Purchased by Towercrest Capital Management

Towercrest Capital Management boosted its stake in The Home Depot, Inc. (NYSE:HD) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,202 shares of the home improvement retailer’s stock after purchasing an additional 897 shares during the period. Towercrest Capital Management’s holdings in Home Depot were worth $857,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the fourth quarter worth about $32,000. NewSquare Capital LLC grew its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter worth about $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $352.12 on Monday. 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 cap of $349.78 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09. The stock’s 50 day moving average price is $393.97 and its 200 day moving average price is $399.14. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the company earned $2.82 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research 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 will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.61%. Home Depot’s payout ratio is 61.66%.

Analysts Set New Price Targets

HD has been the subject of a number of research reports. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada cut 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, Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.