GM Advisory Group LLC Purchases 454 Shares of The Home Depot, Inc. (NYSE:HD)

GM Advisory Group LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 5,928 shares of the home improvement retailer’s stock after buying an additional 454 shares during the quarter. GM Advisory Group LLC’s holdings in Home Depot were worth $2,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of HD. K.J. Harrison & Partners Inc increased its position in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after acquiring an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC increased its position in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares during the period. Pensionfund Sabic increased its position 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 acquiring an additional 3,800 shares during the period. Swedbank AB increased its position in Home Depot by 17.1% during 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 during the period. Finally, Wedmont Private Capital boosted its stake in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HD. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada decreased their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Down 1.3 %

Shares of NYSE HD opened at $349.39 on Wednesday. The company has a market cap of $347.07 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. 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 firm’s 50-day simple moving average is $396.03 and its 200 day simple moving average is $399.40.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.63%. The ex-dividend date is Thursday, March 13th. Home Depot’s 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.