Bearing Point Capital LLC Invests $2.96 Million in The Home Depot, Inc. (NYSE:HD)

Bearing Point Capital LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, HoldingsChannel reports. The fund bought 7,618 shares of the home improvement retailer’s stock, valued at approximately $2,963,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares during the period. Pensionfund Sabic boosted its stake in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after buying an additional 3,800 shares in the last quarter. Legacy Wealth Management LLC MS grew its holdings in Home Depot by 2.2% during the fourth quarter. Legacy Wealth Management LLC MS now owns 1,316 shares of the home improvement retailer’s stock worth $512,000 after acquiring an additional 28 shares during the period. CWA Asset Management Group LLC raised its position in Home Depot by 5.8% in the fourth quarter. CWA Asset Management Group LLC now owns 16,702 shares of the home improvement retailer’s stock worth $6,497,000 after acquiring an additional 913 shares in the last quarter. Finally, Capital Market Strategies LLC boosted its position in shares of Home Depot by 2.3% during the 4th quarter. Capital Market Strategies LLC now owns 6,337 shares of the home improvement retailer’s stock valued at $2,465,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of several recent research reports. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Piper Sandler dropped their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Price Performance

NYSE HD opened at $364.41 on Friday. 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 stock has a market capitalization of $362.24 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a 50 day moving average price of $360.97 and a two-hundred day moving average price of $390.34.

Home Depot (NYSE:HD) last released its quarterly earnings data 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. The business 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%. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed 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 is a positive change 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 2.52%. Home Depot’s dividend payout ratio 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.