FFT Wealth Management LLC Acquires 88 Shares of The Home Depot, Inc. (NYSE:HD)

FFT Wealth Management LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 12.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 785 shares of the home improvement retailer’s stock after acquiring an additional 88 shares during the quarter. FFT Wealth Management LLC’s holdings in Home Depot were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Home Depot during the 3rd quarter valued at about $336,231,000. FMR LLC increased its stake in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in Home Depot by 295.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after purchasing an additional 518,054 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Home Depot by 37,025.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock valued at $187,019,000 after purchasing an additional 479,485 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after purchasing an additional 433,126 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research report on Wednesday. Finally, Piper Sandler cut their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

HD stock opened at $390.40 on Thursday. 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 $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The firm has a 50 day moving average price of $401.17 and a 200-day moving average price of $398.42. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. Home Depot’s payout ratio is presently 61.14%.

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.