The Home Depot, Inc. (NYSE:HD) Shares Purchased by American Money Management LLC

American Money Management LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,865 shares of the home improvement retailer’s stock after purchasing an additional 2,208 shares during the quarter. Home Depot makes up 1.8% of American Money Management LLC’s holdings, making the stock its 18th largest position. American Money Management LLC’s holdings in Home Depot were worth $9,283,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 1.3 %

Shares of NYSE:HD opened at $357.86 on Friday. The stock has a 50-day simple moving average of $389.98 and a 200-day simple moving average of $398.80. The stock has a market capitalization of $355.72 billion, a P/E ratio of 24.31, 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 has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its quarterly 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. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. 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 2.57%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

A number of brokerages have weighed in on HD. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

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.