Murphy & Mullick Capital Management Corp Takes Position in The Home Depot, Inc. (NYSE:HD)

Murphy & Mullick Capital Management Corp bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,643 shares of the home improvement retailer’s stock, valued at approximately $639,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its stake in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Pensionfund Sabic lifted its position in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Wedmont Private Capital grew its stake in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at about $1,793,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several research reports. Piper Sandler dropped their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 0.8 %

Shares of Home Depot stock opened at $360.90 on Wednesday. The company has a market cap of $358.50 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. 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 simple moving average is $392.82 and its 200-day simple moving average is $399.16. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating 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 business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost 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 2.55%. Home Depot’s payout ratio is currently 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.