Canopy Partners LLC Purchases 39 Shares of The Home Depot, Inc. (NYSE:HD)

Canopy Partners LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,346 shares of the home improvement retailer’s stock after purchasing an additional 39 shares during the quarter. Canopy Partners LLC’s holdings in Home Depot were worth $913,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HD. Synergy Asset Management LLC bought a new stake in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $32,000. Sellwood Investment Partners LLC bought a new position in Home Depot during the 4th quarter worth $39,000. Finally, NewSquare Capital LLC lifted its holdings in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HD. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

Shares of HD stock opened at $353.78 on Monday. 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 firm has a 50-day moving average of $384.89 and a 200-day moving average of $398.35. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a market cap of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS 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 analyst estimates of $39.15 billion. During the same quarter last year, the business posted $2.82 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 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.