Baer Investment Advisory LLC Takes $2.37 Million Position in The Home Depot, Inc. (NYSE:HD)

Baer Investment Advisory LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,680 shares of the home improvement retailer’s stock, valued at approximately $2,367,000. Home Depot comprises about 4.9% of Baer Investment Advisory LLC’s holdings, making the stock its 12th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at $28,000. Navigoe LLC bought a new stake in shares of Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP increased its holdings in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.8%

Shares of NYSE:HD opened at $363.17 on Friday. The firm has a fifty day moving average of $359.90 and a 200 day moving average of $387.20. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. 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 firm has a market capitalization of $361.00 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted 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 analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.63 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HD shares. Jefferies Financial Group dropped their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday. Royal Bank of Canada dropped their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial boosted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday. Finally, DA Davidson cut their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

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.