Next Capital Management LLC Purchases 44 Shares of The Home Depot, Inc. (NYSE:HD)

Next Capital Management LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,233 shares of the home improvement retailer’s stock after acquiring an additional 44 shares during the quarter. Next Capital Management LLC’s holdings in Home Depot were worth $869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HD. SYM FINANCIAL Corp grew its holdings in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the period. Swedbank AB lifted its position in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares during the period. United Bank increased its holdings in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after acquiring an additional 181 shares in the last quarter. Finally, Napa Wealth Management bought a new stake in Home Depot during the 3rd quarter worth approximately $211,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HD shares. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Robert W. Baird cut their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

HD stock opened at $349.39 on Wednesday. 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 Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market cap of $347.07 billion, a PE ratio of 23.74, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a 50-day moving average price of $396.03 and a 200 day moving average price of $399.40.

Home Depot (NYSE:HD) last announced its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities 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 will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Home Depot Company 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.