Woodline Partners LP Takes Position in The Home Depot, Inc. (NYSE:HD)

Woodline Partners LP acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, Holdings Channel.com reports. The fund acquired 59,651 shares of the home improvement retailer’s stock, valued at approximately $23,204,000.

A number of other large investors have also added to or reduced their stakes in HD. K.J. Harrison & Partners Inc lifted its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC raised its position in Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. acquired a new position in Home Depot during the 4th quarter worth about $409,000. JPL Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $3,193,000. Finally, Umpqua Bank grew its position in shares of 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 buying an additional 1,294 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HD shares. Truist Financial raised their price objective on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Jefferies Financial Group reduced their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday. Finally, Sanford C. Bernstein dropped their target price on shares of Home Depot from $421.00 to $380.00 and set a “market perform” rating on the stock in a report on Tuesday, May 13th. Nine 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $424.60.

Home Depot Stock Performance

NYSE HD opened at $376.84 on Wednesday. The company has a fifty day moving average price of $358.99 and a 200-day moving average price of $387.78. The firm has a market cap of $374.59 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. 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 issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. 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 annualized dividend and a dividend yield of 2.44%. 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.