Core Wealth Partners LLC Grows Holdings in The Home Depot, Inc. (NYSE:HD)

Core Wealth Partners LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 17.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,846 shares of the home improvement retailer’s stock after purchasing an additional 425 shares during the period. Core Wealth Partners LLC’s holdings in Home Depot were worth $1,107,000 at the end of the most recent quarter.

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

Home Depot Stock Performance

Shares of Home Depot stock opened at $360.90 on Wednesday. The firm’s fifty day simple moving average is $392.82 and its 200-day simple moving average is $399.16. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market capitalization of $358.50 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. 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 announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. 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 2.55%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Analysts Set New Price Targets

HD has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird reduced their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Nine investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

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.