Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,204 shares of the home improvement retailer’s stock after selling 4,661 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Home Depot were worth $82,156,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC grew its stake in Home Depot by 21,394.9% during the 4th 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Home Depot during the 3rd quarter worth about $336,231,000. FMR LLC raised its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, Amundi boosted its stake in shares of Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after buying an additional 599,490 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada cut their target price 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. Wells Fargo & Company increased their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler reduced their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Up 1.1 %

NYSE:HD opened at $353.35 on Thursday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a fifty day simple moving average of $395.36 and a 200-day simple moving average of $399.08. The company has a market capitalization of $351.01 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s payout ratio is 61.66%.

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.