Syon Capital LLC Acquires 2,212 Shares of The Home Depot, Inc. (NYSE:HD)

Syon Capital LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 62.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,754 shares of the home improvement retailer’s stock after purchasing an additional 2,212 shares during the quarter. Syon Capital LLC’s holdings in Home Depot were worth $1,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Keener Financial Planning LLC purchased a new stake in Home Depot during the 4th quarter valued at $31,000. PFG Private Wealth Management LLC raised its holdings in Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the period. Gilfoyle & Co LLC purchased a new stake in Home Depot during the 4th quarter valued at $35,000. Briaud Financial Planning Inc purchased a new stake in Home Depot during the 3rd quarter valued at $41,000. Finally, Quantbot Technologies LP purchased a new stake in Home Depot during the 3rd quarter valued at $64,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.3 %

Shares of Home Depot stock traded down $1.03 during trading hours on Thursday, hitting $331.98. The company’s stock had a trading volume of 3,660,624 shares, compared to its average volume of 3,364,444. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The stock has a market cap of $329.00 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.26 and a beta of 0.98. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm has a fifty day moving average of $365.90 and a 200-day moving average of $340.46.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.71%. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays upgraded Home Depot from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $325.00 to $372.00 in a report on Thursday, January 4th. Wedbush increased their target price on Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Truist Financial restated a “buy” rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada raised their price target on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.