Fred Alger Management LLC Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Fred Alger Management LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 3.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,515 shares of the home improvement retailer’s stock after purchasing an additional 1,450 shares during the period. Fred Alger Management LLC’s holdings in Home Depot were worth $16,927,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial increased their target price on shares of Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Trading Up 0.6 %

Shares of HD stock opened at $364.79 on Friday. The stock has a 50 day simple moving average of $358.61 and a 200 day simple moving average of $389.10. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year 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 stock has a market cap of $362.61 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.52%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Home Depot Company 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.