Second Line Capital LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Second Line Capital LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 91.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,876 shares of the home improvement retailer's stock after buying an additional 4,244 shares during the period. Home Depot comprises about 0.9% of Second Line Capital LLC's investment portfolio, making the stock its 24th biggest holding. Second Line Capital LLC's holdings in Home Depot were worth $3,453,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter worth $28,000. Navigoe LLC bought a new position in Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth $32,000. Finally, Quarry LP raised its holdings in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD stock opened at $380.74 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company's 50-day moving average is $358.12 and its 200 day moving average is $388.02. The company has a market capitalization of $378.46 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 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 the consensus estimate of $39.15 billion. During the same period in the prior year, the firm posted $2.82 EPS. Home Depot's revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 2.42%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Analyst Ratings Changes

Several brokerages have commented on HD. Piper Sandler decreased 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. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Wedbush restated an "outperform" rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average target price of $430.32.

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.

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