Novem Group Buys Shares of 2,419 The Home Depot, Inc. (NYSE:HD)

Novem Group purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,419 shares of the home improvement retailer’s stock, valued at approximately $941,000.

Other hedge funds have also recently modified their holdings of the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth $28,000. Navigoe LLC purchased a new position in Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP lifted its holdings 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 period. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Tuesday. Piper Sandler lowered their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday. Finally, Gordon Haskett lifted their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.92.

Home Depot Stock Performance

Home Depot stock opened at $370.71 on Thursday. The stock has a fifty day moving average price of $359.38 and a 200 day moving average price of $387.66. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a market capitalization of $368.50 billion, a P/E ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.63 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. 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.