Topsail Wealth Management LLC Makes New $1.08 Million Investment in The Home Depot, Inc. (NYSE:HD)

Topsail Wealth Management LLC bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,771 shares of the home improvement retailer's stock, valued at approximately $1,078,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after buying an additional 141,915 shares during the last quarter. Morse Asset Management Inc raised its stake in Home Depot by 12.9% in the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer's stock valued at $12,357,000 after acquiring an additional 3,493 shares during the period. Invst LLC lifted its holdings in Home Depot by 1.7% during the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer's stock valued at $2,719,000 after purchasing an additional 115 shares during the last quarter. McIlrath & Eck LLC boosted its position in Home Depot by 4.5% during the third quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer's stock worth $1,089,000 after purchasing an additional 115 shares during the period. Finally, Tudor Financial Inc. bought a new position in Home Depot during the third quarter worth $1,027,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.6 %

Shares of NYSE:HD traded down $2.02 during mid-day trading on Friday, hitting $357.62. The company had a trading volume of 2,810,233 shares, compared to its average volume of 3,464,974. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a fifty day moving average price of $363.97 and a 200 day moving average price of $392.23. The company has a market capitalization of $355.49 billion, a PE 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 posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. 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 yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio is 61.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price objective 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 lowered their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Wedbush restated an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus 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.