The Home Depot, Inc. (NYSE:HD) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,488 shares of the home improvement retailer's stock after acquiring an additional 3,132 shares during the period. Townsquare Capital LLC's holdings in Home Depot were worth $30,920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Norges Bank purchased a new position in Home Depot in the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. bought a new stake in Home Depot during the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC grew its holdings in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Vanguard Group Inc. lifted its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in Home Depot by 559.5% during the fourth quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer's stock valued at $387,706,000 after buying an additional 875,591 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Gordon Haskett cut shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Piper Sandler reduced 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. 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 for the company in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, KGI Securities raised shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Price Performance

Shares of Home Depot stock traded down $3.59 during trading on Tuesday, hitting $353.61. 2,880,745 shares of the company were exchanged, compared to its average volume of 3,484,680. The firm has a 50 day moving average price of $374.14 and a 200 day moving average price of $395.67. 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 $351.50 billion, a price-to-earnings ratio of 24.02, a P/E/G 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 posted 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 business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is presently 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.