Rialto Wealth Management LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Rialto Wealth Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 670 shares of the home improvement retailer's stock, valued at approximately $261,000.

Several other hedge funds also recently made changes to their positions in HD. Synergy Asset Management LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $32,000. NewSquare Capital LLC boosted its position in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in Home Depot during the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and increased their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Evercore ISI increased their price target on Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $436.50.

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Home Depot Trading Down 1.3 %

Shares of NYSE HD traded down $5.08 during mid-day trading on Friday, hitting $376.66. 4,572,916 shares of the company traded hands, compared to its average volume of 3,351,697. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The stock has a market capitalization of $374.16 billion, a price-to-earnings ratio of 25.59, a PEG 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. The business has a 50 day moving average of $400.21 and a two-hundred day moving average of $400.02.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot's dividend payout ratio is currently 61.66%.

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.