Premier Fund Managers Ltd Invests $20.02 Million in The Home Depot, Inc. (NYSE:HD)

Premier Fund Managers Ltd purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,395 shares of the home improvement retailer’s stock, valued at approximately $20,023,000.

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

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Up 0.2 %

Shares of NYSE:HD opened at $362.96 on Friday. The stock has a market capitalization of $360.55 billion, a price-to-earnings ratio of 24.66, a PEG 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. The stock’s 50-day simple moving average is $391.01 and its two-hundred day simple moving average is $398.65. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.82 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is currently 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.