Sage Investment Counsel LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Sage Investment Counsel LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,857 shares of the home improvement retailer’s stock, valued at approximately $722,000. Home Depot accounts for approximately 0.9% of Sage Investment Counsel LLC’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in HD. AMF Tjanstepension AB boosted its holdings in shares of Home Depot by 10.8% during the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after acquiring an additional 16,650 shares during the period. SYM FINANCIAL Corp boosted its holdings in shares of Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares during the period. Wealth Group Ltd. acquired a new position in shares of Home Depot during the third quarter valued at $217,000. Swedbank AB raised its stake in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Finally, Edge Financial Advisors LLC bought a new stake in shares of Home Depot during the third quarter valued at about $207,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $396.69 on Friday. The stock’s 50-day moving average price is $401.36 and its two-hundred day moving average price is $398.72. 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 company has a market cap of $394.06 billion, a PE ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating 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 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 business posted $2.82 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HD. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday. Truist Financial cut their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

About Home Depot

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.