Lionshead Wealth Management LLC Makes New $909,000 Investment in The Home Depot, Inc. (NYSE:HD)

Lionshead Wealth Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,338 shares of the home improvement retailer's stock, valued at approximately $909,000.

Other hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC purchased a new position in Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the 4th quarter worth approximately $32,000. Finally, Quarry LP raised its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HD. 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 on the stock in a research note on Wednesday, February 26th. 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 note on Monday, March 24th. Morgan Stanley cut their price target on Home Depot from $450.00 to $410.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Truist Financial increased their price target on Home Depot from $391.00 to $393.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $430.32.

Home Depot Stock Down 0.4%

HD stock traded down $1.44 during trading on Wednesday, hitting $372.16. 2,587,267 shares of the company's stock were exchanged, compared to its average volume of 3,424,203. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The business has a 50-day moving average price of $357.86 and a two-hundred day moving average price of $388.40. The stock has a market capitalization of $369.94 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

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.