Elefante Mark B Acquires New Shares in The Home Depot, Inc. (NYSE:HD)

Elefante Mark B acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,893 shares of the home improvement retailer’s stock, valued at approximately $3,459,000. Home Depot comprises approximately 3.2% of Elefante Mark B’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the fourth quarter valued at approximately $28,000. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $32,000. Finally, Quarry LP lifted its stake in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.6 %

Shares of Home Depot stock opened at $364.79 on Friday. The firm’s 50 day simple moving average is $358.61 and its two-hundred day simple moving average is $389.10. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. 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 firm has a market capitalization of $362.61 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was 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 yield of 2.52%. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.32.

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.