Proficio Capital Partners LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Proficio Capital Partners LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,545 shares of the home improvement retailer’s stock after acquiring an additional 1,055 shares during the quarter. Proficio Capital Partners LLC’s holdings in Home Depot were worth $4,102,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Home Depot during the third quarter worth about $336,231,000. FMR LLC raised its stake in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after acquiring an additional 518,054 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Home Depot by 37,025.9% in the 4th 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 last quarter. Finally, Geode Capital Management LLC increased 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 valued at $8,767,449,000 after purchasing an additional 433,126 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the topic of several recent research reports. Piper Sandler dropped their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. raised 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. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Up 0.8 %

HD opened at $354.06 on Tuesday. The business’s fifty day simple moving average is $396.73 and its 200 day simple moving average is $399.54. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a market cap of $351.71 billion, a P/E ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

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 given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

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.