Ellevest Inc. Acquires 59 Shares of The Home Depot, Inc. (NYSE:HD)

Ellevest Inc. increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,306 shares of the home improvement retailer’s stock after buying an additional 59 shares during the quarter. Ellevest Inc.’s holdings in Home Depot were worth $1,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Piper Sandler dropped their price target 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. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 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, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Price Performance

Home Depot stock opened at $364.79 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. 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 moving average price is $358.61 and its two-hundred day moving average price is $389.10. The stock has a market capitalization of $362.61 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm 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 business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) 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.