Candlestick Capital Management LP Buys Shares of 182,309 The Home Depot, Inc. (NYSE:HD)

Candlestick Capital Management LP bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 182,309 shares of the home improvement retailer's stock, valued at approximately $70,916,000. Home Depot comprises 1.6% of Candlestick Capital Management LP's investment portfolio, making the stock its 12th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $32,000. Quarry LP increased its stake in 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 buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $39,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $357.62 on Monday. The company's fifty day moving average is $363.97 and its two-hundred day moving average is $392.11. 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 12-month low of $323.77 and a 12-month high of $439.37. The company has a market cap of $355.49 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $39.15 billion. During the same period in the previous year, the business earned $2.82 EPS. The company's revenue was up 14.1% on a year-over-year basis. Equities analysts expect 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. Home Depot's dividend payout ratio is 61.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HD shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Guggenheim reiterated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $434.08.

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.

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