Candlestick Capital Management LP Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Candlestick Capital Management LP bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 182,309 shares of the home improvement retailer's stock, valued at approximately $70,916,000. Home Depot comprises approximately 1.6% of Candlestick Capital Management LP's investment portfolio, making the stock its 12th largest position.

Other large investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter worth approximately $32,000. Quarry LP lifted its position 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 acquiring an additional 66 shares during the period. Finally, Marshall Investment Management LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Truist Financial reduced their price objective on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wedbush reaffirmed an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Royal Bank of Canada reduced their price target on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Trading Down 0.6 %

Home Depot stock traded down $2.30 during mid-day trading on Thursday, reaching $358.19. 3,206,798 shares of the company traded hands, compared to its average volume of 3,463,279. 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 $356.05 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 4.03 and a beta of 1.09. The firm's 50 day moving average price is $362.01 and its 200 day moving average price is $391.28. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the firm posted $2.82 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

About Home Depot

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.