SRS Capital Advisors Inc. Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

SRS Capital Advisors Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 169.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,355 shares of the home improvement retailer’s stock after acquiring an additional 5,249 shares during the period. SRS Capital Advisors Inc.’s holdings in Home Depot were worth $3,250,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Asahi Life Asset Management CO. LTD. lifted its position in shares of Home Depot by 9.3% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 11,541 shares of the home improvement retailer’s stock worth $4,489,000 after acquiring an additional 983 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $63,000. Clifford Swan Investment Counsel LLC lifted its position in shares of Home Depot by 1.2% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 39,217 shares of the home improvement retailer’s stock worth $15,255,000 after acquiring an additional 455 shares in the last quarter. Bailard Inc. lifted its position in shares of Home Depot by 3.9% during the fourth quarter. Bailard Inc. now owns 86,842 shares of the home improvement retailer’s stock worth $33,781,000 after acquiring an additional 3,291 shares in the last quarter. Finally, IFG Advisors LLC increased its holdings in shares of Home Depot by 6.9% in the fourth quarter. IFG Advisors LLC now owns 2,626 shares of the home improvement retailer’s stock worth $1,022,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several research analyst reports. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a report on Wednesday. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday. Finally, Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

Home Depot stock opened at $396.69 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a 50-day moving average of $401.36 and a 200-day moving average of $399.06. The firm has a market cap of $394.06 billion, a P/E ratio of 26.95, a P/E/G 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.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is 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 yield of 2.32%. Home Depot’s dividend payout ratio (DPR) 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.