Unique Wealth Strategies LLC Makes New $876,000 Investment in The Home Depot, Inc. (NYSE:HD)

Unique Wealth Strategies LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,528 shares of the home improvement retailer’s stock, valued at approximately $876,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares during the period. Jennison Associates LLC raised its position in shares of Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth about $207,210,000. Envestnet Asset Management Inc. boosted its holdings in shares of Home Depot by 20.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock worth $746,003,000 after buying an additional 421,619 shares during the period. Finally, California Public Employees Retirement System grew its stake in Home Depot by 11.3% in the 3rd quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after buying an additional 346,641 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Wells Fargo & Company lifted their target price on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Finally, Truist Financial restated a “buy” rating and set a $417.00 target price on shares of Home Depot in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Trading Up 0.9 %

Shares of Home Depot stock traded up $3.11 on Friday, hitting $335.09. The stock had a trading volume of 2,465,262 shares, compared to its average volume of 3,779,238. The stock has a 50 day moving average of $364.77 and a 200 day moving average of $340.68. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm has a market capitalization of $332.08 billion, a P/E ratio of 22.19, a PEG ratio of 2.21 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.30 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is currently 59.60%.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

About Home Depot

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.