Towercrest Capital Management Raises Position in The Home Depot, Inc. (NYSE:HD)

Towercrest Capital Management raised its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 68.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,202 shares of the home improvement retailer's stock after purchasing an additional 897 shares during the quarter. Towercrest Capital Management's holdings in Home Depot were worth $857,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. SYM FINANCIAL Corp raised its stake 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 worth $777,000 after purchasing an additional 289 shares during the last quarter. Swedbank AB lifted its position in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock valued at $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Principal Financial Group Inc. grew its position 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 worth $596,140,000 after purchasing an additional 141,915 shares in the last quarter. United Bank increased 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 valued at $1,806,000 after buying an additional 181 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Home Depot during the 3rd quarter worth approximately $649,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several equities analysts have recently issued reports on HD shares. Wedbush reaffirmed an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company raised their target price on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Truist Financial reduced their target price on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Nine 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.85.

Home Depot Price Performance

Shares of NYSE:HD traded up $0.83 during trading on Thursday, reaching $362.96. The company had a trading volume of 3,035,092 shares, compared to its average volume of 3,220,848. The company has a fifty day moving average of $391.01 and a two-hundred day moving average of $398.65. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $360.55 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. 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 earned $2.82 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast 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 will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

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.