Napa Wealth Management Has $2.10 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Napa Wealth Management increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 937.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,397 shares of the home improvement retailer’s stock after buying an additional 4,877 shares during the quarter. Home Depot accounts for 0.9% of Napa Wealth Management’s portfolio, making the stock its 25th biggest holding. Napa Wealth Management’s holdings in Home Depot were worth $2,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HD. Norges Bank acquired a new stake in Home Depot during the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. bought a new position in Home Depot during the fourth quarter worth about $2,212,546,000. Proficio Capital Partners LLC lifted its stake in 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 worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Northern Trust Corp lifted its stake in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new position in Home Depot during the fourth quarter worth about $471,189,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HD shares. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Truist Financial raised their price target on shares of Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company cut their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley cut their target price on shares of Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $430.32.

Home Depot Price Performance

HD opened at $376.06 on Tuesday. The company has a fifty day moving average price of $358.02 and a two-hundred day moving average price of $388.50. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a market capitalization of $373.82 billion, a PE ratio of 25.55, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.45%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio 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.