Seven Mile Advisory Purchases 325 Shares of The Home Depot, Inc. (NYSE:HD)

Seven Mile Advisory grew its holdings in The Home Depot, Inc. (NYSE:HD) by 24.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,667 shares of the home improvement retailer’s stock after acquiring an additional 325 shares during the period. Seven Mile Advisory’s holdings in Home Depot were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Home Depot by 0.9% during 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 acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC lifted its position in Home Depot by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after purchasing an additional 433,126 shares during the period. Norges Bank bought a new position in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC grew its position in shares of Home Depot by 1.3% during 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 buying an additional 125,441 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Home Depot by 5.5% during the 4th quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock valued at $3,521,173,000 after acquiring an additional 468,203 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 1.3 %

Home Depot stock opened at $357.86 on Monday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company’s 50-day moving average price is $389.98 and its two-hundred day moving average price is $398.99. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a market cap of $355.72 billion, a P/E ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $39.15 billion. During the same period in the prior year, the company posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Truist Financial reduced their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $435.85.

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.