TIAA Trust National Association Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

TIAA Trust National Association lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 93,590 shares of the home improvement retailer’s stock after selling 417 shares during the period. TIAA Trust National Association’s holdings in Home Depot were worth $36,406,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HD. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot during the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $363.97 on Tuesday. 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 business has a 50 day simple moving average of $393.46 and a two-hundred day simple moving average of $399.16. The stock has a market capitalization of $361.55 billion, a P/E ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the firm posted $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine 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 stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

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.