The Home Depot, Inc. (NYSE:HD) Holdings Trimmed by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,027,794 shares of the home improvement retailer’s stock after selling 40,516 shares during the quarter. Invesco Ltd.’s holdings in Home Depot were worth $1,177,782,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC raised its holdings in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Norges Bank bought a new position in shares of Home Depot during the 4th quarter worth about $5,032,910,000. Fisher Asset Management LLC boosted its holdings in Home Depot by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Home Depot by 5.5% during the 4th quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock worth $3,521,173,000 after buying an additional 468,203 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.6 %

Home Depot stock opened at $353.78 on Monday. 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 stock has a 50-day simple moving average of $384.89 and a 200 day simple moving average of $398.35. The stock has a market capitalization of $351.67 billion, a P/E ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HD shares. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Truist Financial dropped their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $435.85.

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.