Zevenbergen Capital Investments LLC Raises Stake in The Home Depot, Inc. (NYSE:HD)

Zevenbergen Capital Investments LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,357 shares of the home improvement retailer’s stock after acquiring an additional 75 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Home Depot were worth $4,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC bought a new stake in Home Depot in the 4th quarter worth approximately $41,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HD shares. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Piper Sandler decreased their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted 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. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Performance

Shares of HD opened at $352.12 on Monday. The company has a 50-day simple moving average of $393.97 and a 200-day simple moving average of $399.14. 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 has a market capitalization of $349.78 billion, a PE ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. 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 announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate 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 was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.61%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

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.