Waverly Advisors LLC Has $26.84 Million Stake in The Home Depot, Inc. (NYSE:HD)

Waverly Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 23.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,995 shares of the home improvement retailer's stock after purchasing an additional 13,038 shares during the period. Waverly Advisors LLC's holdings in Home Depot were worth $26,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HD. Wealth Group Ltd. lifted its stake in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock valued at $219,000 after acquiring an additional 27 shares during the last quarter. Tallon Kerry Patrick bought a new position in shares of Home Depot during the 4th quarter valued at $281,000. Capital & Planning LLC boosted its holdings in Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer's stock worth $418,000 after purchasing an additional 563 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Home Depot during the fourth quarter worth $634,000. Finally, Verity & Verity LLC increased its position in Home Depot by 28.4% during the fourth quarter. Verity & Verity LLC now owns 24,667 shares of the home improvement retailer's stock worth $9,595,000 after buying an additional 5,458 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Guggenheim restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday. Truist Financial lifted their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday. Sanford C. Bernstein boosted their price objective on shares of Home Depot from $380.00 to $398.00 and gave the stock a "market perform" rating in a research note on Wednesday. Mizuho lowered their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley lifted their target price on shares of Home Depot from $410.00 to $415.00 and gave the stock an "overweight" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $427.92.

Home Depot Trading Down 1.7%

NYSE:HD traded down $6.34 during trading hours on Wednesday, hitting $370.71. 3,965,127 shares of the stock were exchanged, compared to its average volume of 3,436,752. The company has a market capitalization of $368.50 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company's 50 day moving average is $359.38 and its two-hundred day moving average is $387.66. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. 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 company posted $3.63 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is 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.