Sunpointe LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Sunpointe LLC increased its holdings in The Home Depot, Inc. (NYSE:HD) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,890 shares of the home improvement retailer’s stock after buying an additional 55 shares during the quarter. Sunpointe LLC’s holdings in Home Depot were worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. LMG Wealth Partners LLC raised its holdings in Home Depot by 32.5% in the 4th quarter. LMG Wealth Partners LLC now owns 2,266 shares of the home improvement retailer’s stock worth $881,000 after purchasing an additional 556 shares during the period. Corps Capital Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $936,000. Cumberland Partners Ltd increased its holdings in shares of Home Depot by 2.9% in the fourth quarter. Cumberland Partners Ltd now owns 79,608 shares of the home improvement retailer’s stock valued at $30,967,000 after purchasing an additional 2,234 shares during the last quarter. Abacus Planning Group Inc. boosted its position in shares of Home Depot by 3.9% during the 4th quarter. Abacus Planning Group Inc. now owns 3,452 shares of the home improvement retailer’s stock valued at $1,343,000 after acquiring an additional 128 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Home Depot by 8.1% in the fourth quarter. Ieq Capital LLC now owns 98,346 shares of the home improvement retailer’s stock valued at $38,256,000 after purchasing an additional 7,381 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 2.1 %

HD opened at $394.77 on Thursday. 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 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market capitalization of $392.15 billion, a P/E ratio of 26.82, a P/E/G ratio of 4.18 and a beta of 1.05. The business has a 50 day simple moving average of $403.17 and a 200-day simple moving average of $397.01.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen boosted their price target on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Truist Financial upped their target price on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $433.44.

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.