Polar Asset Management Partners Inc. Invests $20.62 Million in The Home Depot, Inc. (NYSE:HD)

Polar Asset Management Partners Inc. bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 53,000 shares of the home improvement retailer's stock, valued at approximately $20,616,000.

A number of other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC boosted its holdings in Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after purchasing an additional 24 shares during the period. Center for Financial Planning Inc. boosted its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock valued at $1,810,000 after purchasing an additional 24 shares during the period. Marino Stram & Associates LLC boosted its holdings in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock valued at $431,000 after purchasing an additional 25 shares during the period. Live Oak Private Wealth LLC boosted its holdings in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after purchasing an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC boosted its holdings in Home Depot by 4.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock valued at $255,000 after purchasing an additional 25 shares during the period. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HD shares. Truist Financial raised their price target on shares of Home Depot from $391.00 to $393.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $470.00 to $410.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Morgan Stanley dropped their price objective on shares of Home Depot from $450.00 to $410.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $430.32.

Home Depot Trading Up 0.6%

Shares of HD stock traded up $2.11 during mid-day trading on Friday, reaching $380.74. The stock had a trading volume of 3,127,104 shares, compared to its average volume of 3,419,033. The stock's 50-day moving average price is $358.12 and its two-hundred day moving average price is $388.02. 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 $378.46 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.42%. Home Depot's dividend payout ratio (DPR) is currently 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.