Whalerock Point Partners LLC Acquires 810 Shares of The Home Depot, Inc. (NYSE:HD)

Whalerock Point Partners LLC boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,885 shares of the home improvement retailer’s stock after purchasing an additional 810 shares during the quarter. Home Depot comprises approximately 1.5% of Whalerock Point Partners LLC’s investment portfolio, making the stock its 17th biggest position. Whalerock Point Partners LLC’s holdings in Home Depot were worth $6,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HD. Principal Financial Group Inc. increased its position in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the period. Morse Asset Management Inc increased its position in Home Depot by 12.9% during the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after acquiring an additional 3,493 shares during the period. Invst LLC raised its stake in Home Depot by 1.7% in the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer’s stock worth $2,719,000 after purchasing an additional 115 shares in the last quarter. McIlrath & Eck LLC boosted its holdings in Home Depot by 4.5% in the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer’s stock valued at $1,089,000 after purchasing an additional 115 shares during the period. Finally, Tudor Financial Inc. acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $1,027,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird decreased their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Truist Financial cut their price target on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Stock Performance

NYSE:HD opened at $357.62 on Friday. 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 Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a fifty day moving average of $363.97 and a 200-day moving average of $392.23. The firm has a market capitalization of $355.49 billion, a P/E ratio of 24.29, a P/E/G ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 2.57%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

About Home Depot

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.