Longbow Finance SA Takes $8.72 Million Position in The Home Depot, Inc. (NYSE:HD)

Longbow Finance SA acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,407 shares of the home improvement retailer’s stock, valued at approximately $8,716,000.

A number of other institutional investors have also modified their holdings of HD. Synergy Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter worth approximately $41,000. Marshall Investment Management LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $41,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial boosted their price objective on shares of Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada boosted their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Bank of America upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.44.

Home Depot Stock Down 1.1 %

Shares of NYSE:HD opened at $381.12 on Tuesday. The stock has a market capitalization of $378.59 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth 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. The company’s fifty day moving average is $401.53 and its two-hundred day moving average is $398.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.14%.

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.