Sagespring Wealth Partners LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Sagespring Wealth Partners LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,434 shares of the home improvement retailer's stock, valued at approximately $13,395,000.

Other hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in Home Depot by 4.1% during the 4th quarter. Townsquare Capital LLC now owns 79,488 shares of the home improvement retailer's stock worth $30,920,000 after purchasing an additional 3,132 shares during the period. Crux Wealth Advisors purchased a new position in shares of Home Depot in the 4th quarter valued at about $1,782,000. Nicolet Bankshares Inc. lifted its position in shares of Home Depot by 0.5% during the 4th quarter. Nicolet Bankshares Inc. now owns 7,332 shares of the home improvement retailer's stock valued at $2,852,000 after acquiring an additional 38 shares during the period. Manhattan West Asset Management LLC boosted its position in Home Depot by 19.4% during the fourth quarter. Manhattan West Asset Management LLC now owns 826 shares of the home improvement retailer's stock worth $321,000 after purchasing an additional 134 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Home Depot by 2.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 635,859 shares of the home improvement retailer's stock worth $247,330,000 after buying an additional 15,186 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

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Home Depot Trading Up 0.9 %

Shares of NYSE:HD traded up $3.06 during midday trading on Monday, reaching $356.92. The company had a trading volume of 2,841,813 shares, compared to its average volume of 3,487,086. The company has a fifty day simple moving average of $374.14 and a two-hundred day simple moving average of $395.67. 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 firm has a market cap of $354.79 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given 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 was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.58%. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Analysts Set New Price Targets

HD has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Royal Bank of Canada reduced 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 report on Wednesday, February 26th. Finally, Truist Financial reduced their target price on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Ten equities 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 stock. According to MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

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.