ZEGA Investments LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

ZEGA Investments LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,557 shares of the home improvement retailer’s stock, valued at approximately $1,060,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth $32,000. NewSquare Capital LLC boosted its holdings in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter valued at $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $352.12 on Friday. The firm has a market cap of $349.78 billion, a price-to-earnings ratio of 23.92, a PEG 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. The business’s 50 day moving average is $393.97 and its two-hundred day moving average is $398.66. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HD. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler decreased their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.