Mackenzie Financial Corp Grows Stake in The Home Depot, Inc. (NYSE:HD)

Mackenzie Financial Corp raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 643,284 shares of the home improvement retailer’s stock after purchasing an additional 32,275 shares during the period. Mackenzie Financial Corp owned about 0.06% of Home Depot worth $250,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the fourth quarter valued at approximately $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 position in shares of Home Depot during the fourth quarter worth $32,000. Finally, Quarry LP lifted its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HD. TD Securities restated a “buy” rating and set a $470.00 target price on shares of Home Depot in a research note on Wednesday. Piper Sandler dropped their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday. Jefferies Financial Group cut their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday. Finally, Royal Bank of Canada lowered their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Eight equities research 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 company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Stock Down 0.8%

NYSE HD opened at $363.17 on Friday. The business has a fifty day moving average price of $359.90 and a 200 day moving average price of $387.20. 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 cap of $361.00 billion, a P/E ratio of 24.67, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. Home Depot’s dividend payout ratio is presently 62.42%.

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.