The Home Depot, Inc. (NYSE:HD) Shares Bought by Seven Mile Advisory

Seven Mile Advisory grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,667 shares of the home improvement retailer’s stock after buying an additional 325 shares during the period. Seven Mile Advisory’s holdings in Home Depot were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Norges Bank acquired a new position in Home Depot during the 4th quarter worth $5,032,910,000. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC increased its stake 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 valued at $793,486,000 after acquiring an additional 2,030,372 shares during the period. Vanguard Group Inc. raised its holdings in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Finally, Amundi lifted its position in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after purchasing an additional 599,490 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of Home Depot stock opened at $357.86 on Monday. 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 fifty day simple moving average of $389.98 and a 200-day simple moving average of $398.99. The stock has a market capitalization of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. 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, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. Home Depot’s payout ratio is 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.