Fortitude Family Office LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Fortitude Family Office LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 40.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,814 shares of the home improvement retailer’s stock after buying an additional 2,257 shares during the quarter. Home Depot comprises 1.1% of Fortitude Family Office LLC’s investment portfolio, making the stock its 21st biggest holding. Fortitude Family Office LLC’s holdings in Home Depot were worth $3,040,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. grew its stake in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares during the last quarter. Pensionfund Sabic grew its stake in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Swedbank AB increased its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Home Depot by 14.3% during the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after purchasing an additional 84,062 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HD shares. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Piper Sandler increased their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Finally, Mizuho raised their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by insiders.

Home Depot Stock Performance

Shares of HD opened at $386.89 on Friday. The company has a market capitalization of $384.32 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 2.90 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company’s 50 day simple moving average is $406.19 and its 200 day simple moving average is $385.06.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period last year, the company earned $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

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.