Graham Capital Management L.P. Boosts Position in The Home Depot, Inc. (NYSE:HD)

Graham Capital Management L.P. increased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 62.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the home improvement retailer's stock after buying an additional 5,600 shares during the quarter. Graham Capital Management L.P.'s holdings in Home Depot were worth $5,640,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth approximately $5,032,910,000. Raymond James Financial Inc. acquired a new stake in Home Depot during the fourth quarter worth about $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Northern Trust Corp increased its position in shares of Home Depot by 13.3% during 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 acquiring an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $471,189,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HD shares. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird dropped their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Truist Financial raised their target price on Home Depot from $391.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Ten research 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. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $430.32.

Home Depot Price Performance

Shares of Home Depot stock traded up $13.35 during mid-day trading on Monday, reaching $376.06. 3,831,316 shares of the stock were exchanged, compared to its average volume of 3,442,585. 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 current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a 50-day simple moving average of $358.23 and a 200 day simple moving average of $388.66. The company has a market cap of $373.82 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly 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 firm 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 company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.82 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS 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 paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.45%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 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.