New York Life Investment Management LLC Buys 649 Shares of The Home Depot, Inc. (NYSE:HD)

New York Life Investment Management LLC boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,646 shares of the home improvement retailer’s stock after buying an additional 649 shares during the period. New York Life Investment Management LLC’s holdings in Home Depot were worth $57,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Apriem Advisors increased its holdings in shares of Home Depot by 9.8% in the 4th quarter. Apriem Advisors now owns 2,677 shares of the home improvement retailer’s stock worth $1,042,000 after purchasing an additional 238 shares in the last quarter. Lineweaver Wealth Advisors LLC increased its holdings in shares of Home Depot by 11.4% in the 4th quarter. Lineweaver Wealth Advisors LLC now owns 9,550 shares of the home improvement retailer’s stock worth $3,717,000 after purchasing an additional 981 shares in the last quarter. Stegent Equity Advisors Inc. increased its holdings in shares of Home Depot by 11.2% in the 4th quarter. Stegent Equity Advisors Inc. now owns 913 shares of the home improvement retailer’s stock worth $355,000 after purchasing an additional 92 shares in the last quarter. GenTrust LLC increased its holdings in shares of Home Depot by 16.1% in the 4th quarter. GenTrust LLC now owns 1,109 shares of the home improvement retailer’s stock worth $432,000 after purchasing an additional 154 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Home Depot in the 4th quarter worth $93,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $390.40 on Thursday. The stock’s 50-day simple moving average is $401.17 and its 200-day simple moving average is $398.42. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share 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. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is presently 61.14%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HD. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday. Truist Financial dropped their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

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.