Tolleson Wealth Management Inc. Invests $216,000 in The Home Depot, Inc. (NYSE:HD)

Tolleson Wealth Management Inc. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 555 shares of the home improvement retailer’s stock, valued at approximately $216,000.

A number of other large investors also recently modified their holdings of the business. Wealth Group Ltd. raised its stake in shares of Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick acquired a new position in shares of Home Depot in the fourth quarter valued at $281,000. Carnegie Investment Counsel grew its position in Home Depot by 5.2% in the fourth quarter. Carnegie Investment Counsel now owns 49,931 shares of the home improvement retailer’s stock valued at $19,423,000 after acquiring an additional 2,481 shares during the period. Ritholtz Wealth Management grew its position in Home Depot by 4.4% in the fourth quarter. Ritholtz Wealth Management now owns 21,695 shares of the home improvement retailer’s stock valued at $8,439,000 after acquiring an additional 922 shares during the period. Finally, JGP Wealth Management LLC grew its position in Home Depot by 1.0% in the fourth quarter. JGP Wealth Management LLC now owns 11,179 shares of the home improvement retailer’s stock valued at $4,349,000 after acquiring an additional 115 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $380.74 on Friday. The business’s 50-day simple moving average is $358.12 and its 200 day simple moving average is $387.99. The stock has a market cap of $378.46 billion, a price-to-earnings ratio of 25.87, a P/E/G 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 quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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 firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.42%. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HD shares. Royal Bank of Canada lowered their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial upped their price target on Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $430.32.

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.