Cary Street Partners Financial LLC Buys Shares of 53,908 The Home Depot, Inc. (NYSE:HD)

Cary Street Partners Financial LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 53,908 shares of the home improvement retailer's stock, valued at approximately $20,970,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after purchasing an additional 141,915 shares in the last quarter. Pensionfund Sabic increased its holdings in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Legacy Wealth Management LLC MS lifted its position in Home Depot by 2.2% during the fourth quarter. Legacy Wealth Management LLC MS now owns 1,316 shares of the home improvement retailer's stock worth $512,000 after buying an additional 28 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in Home Depot by 5.8% during the fourth quarter. CWA Asset Management Group LLC now owns 16,702 shares of the home improvement retailer's stock worth $6,497,000 after buying an additional 913 shares during the last quarter. Finally, Capital Market Strategies LLC grew its holdings in Home Depot by 2.3% in the 4th quarter. Capital Market Strategies LLC now owns 6,337 shares of the home improvement retailer's stock valued at $2,465,000 after buying an additional 145 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Up 1.7 %

HD stock opened at $364.41 on Monday. The company's 50 day moving average price is $360.97 and its 200 day moving average price is $390.16. The firm has a market capitalization of $362.24 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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 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%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 issued a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Guggenheim reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, KGI Securities raised Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $434.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.