NEOS Investment Management LLC Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

NEOS Investment Management LLC boosted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 29.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 54,014 shares of the home improvement retailer's stock after acquiring an additional 12,428 shares during the period. NEOS Investment Management LLC's holdings in Home Depot were worth $21,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SYM FINANCIAL Corp raised its position in shares of Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer's stock valued at $777,000 after buying an additional 289 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock valued at $596,140,000 after acquiring an additional 141,915 shares during the last quarter. United Bank lifted its stake in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer's stock worth $1,806,000 after purchasing an additional 181 shares in the last quarter. Algert Global LLC acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $649,000. Finally, Cadence Bank grew its position in shares of Home Depot by 5.6% in the third quarter. Cadence Bank now owns 15,678 shares of the home improvement retailer's stock valued at $6,353,000 after purchasing an additional 836 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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Home Depot Price Performance

Shares of HD traded down $4.87 during trading hours on Friday, reaching $357.86. 2,979,134 shares of the company traded hands, compared to its average volume of 3,449,521. The stock has a fifty day simple moving average of $389.98 and a 200 day simple moving average of $398.80. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a market capitalization of $355.72 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $2.82 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. Home Depot's dividend payout ratio (DPR) is 61.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $435.85.

Home Depot 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.