Voleon Capital Management LP Buys Shares of 8,263 The Home Depot, Inc. (NYSE:HD)

Voleon Capital Management LP purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,263 shares of the home improvement retailer’s stock, valued at approximately $3,214,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter worth about $32,000. Quarry LP grew its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $39,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.6 %

Shares of NYSE:HD opened at $359.05 on Wednesday. The business has a 50 day simple moving average of $362.50 and a two-hundred day simple moving average of $391.50. The firm has a market capitalization of $356.91 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given 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 dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Upgrades and Downgrades

HD has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada lowered 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 reduced their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial reduced their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. 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.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $434.08.

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.