Alphastar Capital Management LLC Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Alphastar Capital Management LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 11.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,306 shares of the home improvement retailer’s stock after purchasing an additional 1,241 shares during the period. Alphastar Capital Management LLC’s holdings in Home Depot were worth $4,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Jennison Associates LLC boosted its position in shares of Home Depot by 84.7% during the 3rd quarter. Jennison Associates LLC now owns 3,983,358 shares of the home improvement retailer’s stock worth $1,307,577,000 after purchasing an additional 1,826,227 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Home Depot by 104.8% during the 3rd quarter. Nordea Investment Management AB now owns 3,147,694 shares of the home improvement retailer’s stock worth $1,054,478,000 after buying an additional 1,611,109 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Home Depot during the 4th quarter worth $440,559,000. UBS Asset Management Americas Inc. raised its stake in shares of Home Depot by 11.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 5,903,692 shares of the home improvement retailer’s stock worth $1,937,946,000 after buying an additional 605,827 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Home Depot by 18.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,417,943 shares of the home improvement retailer’s stock worth $1,122,117,000 after buying an additional 521,895 shares during the last quarter. Institutional investors own 69.52% of the company’s stock.

A number of research firms have issued reports on HD. Morgan Stanley reduced their target price on shares of Home Depot from $420.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, February 23rd. The Goldman Sachs Group cut their price target on shares of Home Depot from $413.00 to $402.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Truist Financial lowered their price objective on shares of Home Depot from $448.00 to $405.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Citigroup lowered their price objective on shares of Home Depot from $445.00 to $377.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Finally, Piper Sandler decreased their price target on shares of Home Depot from $342.00 to $314.00 and set a “neutral” rating for the company in a research report on Thursday, April 7th. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Home Depot currently has an average rating of “Buy” and an average price target of $387.08.

NYSE:HD traded down $4.31 on Monday, hitting $300.21. 3,143,670 shares of the company’s stock traded hands, compared to its average volume of 5,082,088. The company has a current ratio of 1.01, a quick ratio of 0.24 and a debt-to-equity ratio of 35.47. The Home Depot, Inc. has a 1 year low of $293.59 and a 1 year high of $420.61. The firm has a 50-day moving average price of $322.40 and a 200-day moving average price of $359.63. The company has a market cap of $310.23 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.01. The business had revenue of $35.72 billion during the quarter, compared to analyst estimates of $34.85 billion. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.74 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Thursday, March 10th were issued a $1.90 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $1.65. This represents a $7.60 annualized dividend and a yield of 2.53%. The ex-dividend date was Wednesday, March 9th. Home Depot’s payout ratio is 48.97%.

In other news, EVP Hector A. Padilla sold 504 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $309.80, for a total transaction of $156,139.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

Home Depot Profile (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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