The Home Depot, Inc. (NYSE:HD) is Dearborn Partners LLC’s 5th Largest Position

Dearborn Partners LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 131,327 shares of the home improvement retailer’s stock after selling 217 shares during the period. Home Depot accounts for 2.1% of Dearborn Partners LLC’s investment portfolio, making the stock its 5th largest holding. Dearborn Partners LLC’s holdings in Home Depot were worth $51,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp lifted its holdings in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares during the last quarter. Swedbank AB raised its position in Home Depot by 17.1% during 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. Principal Financial Group Inc. lifted its stake in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after purchasing an additional 141,915 shares during the last quarter. United Bank boosted its holdings in shares of Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares during the period. Finally, Assetmark Inc. increased its position in shares of Home Depot by 12.4% during the 3rd quarter. Assetmark Inc. now owns 37,351 shares of the home improvement retailer’s stock valued at $15,135,000 after purchasing an additional 4,114 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $374.13 on Tuesday. The business’s fifty day simple moving average is $399.91 and its 200-day simple moving average is $400.08. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a market cap of $371.65 billion, a PE ratio of 25.42, a PEG ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. Piper Sandler lowered their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Robert W. Baird cut their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.