Bryce Point Capital LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Bryce Point Capital LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,432 shares of the home improvement retailer's stock, valued at approximately $557,000.

Several other institutional investors have also made changes to their positions in HD. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC lifted its position in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Vanguard Group Inc. lifted its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Finally, Amundi grew its stake in Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer's stock worth $2,925,498,000 after buying an additional 599,490 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and upped their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $435.85.

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Home Depot Trading Down 0.6 %

Shares of NYSE HD traded down $2.13 during midday trading on Friday, reaching $353.78. The stock had a trading volume of 7,527,472 shares, compared to its average volume of 3,460,716. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company's 50 day moving average price is $386.11 and its 200 day moving average price is $398.35. The firm has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating 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 business 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 posted $2.82 earnings per share. The business's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was 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 yield of 2.60%. Home Depot's payout ratio is 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.