Redwood Investment Management LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Redwood Investment Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 28.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,467 shares of the home improvement retailer’s stock after buying an additional 543 shares during the quarter. Redwood Investment Management LLC’s holdings in Home Depot were worth $960,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter worth $28,000. Navigoe LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP lifted its position 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. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial boosted their price target on shares of Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Stock Performance

Shares of HD opened at $380.74 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 company has a market capitalization of $378.46 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company’s 50 day simple moving average is $358.12 and its 200 day simple moving average is $388.02.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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 company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.82 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.42%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 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.