Ewing Morris & Co. Investment Partners Ltd. Takes Position in The Home Depot, Inc. (NYSE:HD)

Ewing Morris & Co. Investment Partners Ltd. bought a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,755 shares of the home improvement retailer’s stock, valued at approximately $1,072,000.

Other large investors have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter valued at $28,000. Navigoe LLC purchased a new position in Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $32,000. Finally, Quarry LP boosted 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 worth $37,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Truist Financial lifted their target price on shares of Home Depot from $391.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $430.32.

Home Depot Stock Up 0.6 %

Shares of NYSE HD opened at $364.79 on Friday. The stock has a market cap of $362.61 billion, a P/E ratio of 24.78, a PEG ratio of 4.03 and a beta of 1.05. The business’s fifty day simple moving average is $358.61 and its 200-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.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the company earned $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 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.