Focus Partners Advisor Solutions LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Focus Partners Advisor Solutions LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 62.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,812 shares of the home improvement retailer's stock after purchasing an additional 7,997 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Home Depot were worth $8,096,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HD. Vanguard Group Inc. boosted its stake in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Geode Capital Management LLC boosted its position in Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank purchased a new position in shares of Home Depot in the fourth quarter valued at approximately $5,032,910,000. Capital Research Global Investors lifted its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $376.84 on Wednesday. The firm's 50 day moving average price is $358.99 and its two-hundred day moving average price is $387.78. 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 stock has a market cap of $374.59 billion, a PE ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the business posted $3.63 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HD. Piper Sandler dropped their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and lifted their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Sanford C. Bernstein decreased their price target on Home Depot from $421.00 to $380.00 and set a "market perform" rating for the company in a report on Tuesday, May 13th. Gordon Haskett boosted their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday. Finally, KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $424.60.

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.

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