Canopy Partners LLC Buys 39 Shares of The Home Depot, Inc. (NYSE:HD)

Canopy Partners LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,346 shares of the home improvement retailer’s stock after buying an additional 39 shares during the quarter. Canopy Partners LLC’s holdings in Home Depot were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. K.J. Harrison & Partners Inc raised its stake in Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC raised its position in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares during the period. Pensionfund Sabic raised its position in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Wedmont Private Capital lifted its stake in shares of Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Disciplined Investors L.L.C. bought a new position in Home Depot in the 4th quarter worth approximately $409,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the topic of a number of analyst reports. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. 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 report on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Down 0.6 %

Shares of HD opened at $353.78 on Monday. The firm has a market cap of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The stock has a 50 day simple moving average of $384.89 and a two-hundred day simple moving average of $398.35. 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 released its 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. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 EPS. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. 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.