Wise Wealth Partners Takes Position in The Home Depot, Inc. (NYSE:HD)

Wise Wealth Partners purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 735 shares of the home improvement retailer's stock, valued at approximately $286,000.

A number of other large investors have also recently added to or reduced their stakes in HD. Vanguard Group Inc. raised its stake in 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 valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC raised its stake in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after acquiring an additional 257,036 shares during the period. Norges Bank acquired a new stake in Home Depot during the 4th quarter valued at $5,032,910,000. Capital Research Global Investors boosted its position in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the period. 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. Institutional investors and hedge funds own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HD shares. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial dropped their price target on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Price Performance

Shares of NYSE:HD traded down $2.30 during trading on Thursday, hitting $358.19. 3,206,798 shares of the company were exchanged, compared to its average volume of 3,464,074. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a market capitalization of $356.05 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 business's 50 day moving average is $361.56 and its 200-day moving average is $390.89.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date 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 currently 61.66%.

Home Depot Company 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.