Twinbeech Capital LP Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Twinbeech Capital LP increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 373.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,588 shares of the home improvement retailer’s stock after purchasing an additional 151,935 shares during the period. Home Depot makes up 1.3% of Twinbeech Capital LP’s portfolio, making the stock its 2nd biggest position. Twinbeech Capital LP’s holdings in Home Depot were worth $74,915,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. K.J. Harrison & Partners Inc lifted its stake in Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. bought a new stake in Home Depot in the 4th quarter valued at approximately $409,000. JPL Wealth Management LLC bought a new stake in Home Depot in the 4th quarter valued at approximately $3,193,000. Finally, Umpqua Bank lifted its stake in Home Depot by 26.5% in the 4th quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock valued at $2,425,000 after acquiring an additional 1,294 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several research reports. Guggenheim restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial boosted their price target on Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. 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. Finally, Wells Fargo & Company lowered their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Stock Performance

HD opened at $380.74 on Monday. The business has a fifty day simple moving average of $358.12 and a 200 day simple moving average of $387.95. The company has a market capitalization of $378.46 billion, a PE ratio of 25.87, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released 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. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.42%. Home Depot’s payout ratio is 61.66%.

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.