Strait & Sound Wealth Management LLC Purchases 345 Shares of The Home Depot, Inc. (NYSE:HD)

Strait & Sound Wealth Management LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,794 shares of the home improvement retailer’s stock after acquiring an additional 345 shares during the quarter. Home Depot accounts for approximately 1.4% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Strait & Sound Wealth Management LLC’s holdings in Home Depot were worth $3,032,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HD. Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $5,032,910,000. Raymond James Financial Inc. bought a new stake in Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC boosted its position in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Northern Trust Corp increased its holdings in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Home Depot in the fourth quarter valued at about $471,189,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $365.95 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The stock has a market capitalization of $363.77 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 company’s 50 day simple moving average is $359.62 and its 200 day simple moving average is $387.46.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.51%. Home Depot’s payout ratio is 62.42%.

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. DA Davidson reduced their price objective on Home Depot from $470.00 to $450.00 in a report on Tuesday. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Mizuho lowered their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

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.