Snider Financial Group Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Snider Financial Group raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 90.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,436 shares of the home improvement retailer’s stock after acquiring an additional 683 shares during the period. Snider Financial Group’s holdings in Home Depot were worth $559,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot during the 3rd quarter worth approximately $336,231,000. FMR LLC boosted its stake in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Home Depot by 295.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after buying an additional 518,054 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Home Depot by 37,025.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock worth $187,019,000 after acquiring an additional 479,485 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 433,126 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

NYSE:HD opened at $381.55 on Wednesday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $379.02 billion, a P/E ratio of 25.92, a PEG ratio of 4.03 and a beta of 1.05. The business’s 50-day moving average price is $401.00 and its 200 day moving average price is $399.71.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.41%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Barclays lifted their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Evercore ISI increased their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.