Lbp Am Sa Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Lbp Am Sa lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 97.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,033 shares of the home improvement retailer’s stock after acquiring an additional 50,409 shares during the quarter. Lbp Am Sa’s holdings in Home Depot were worth $39,690,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HD. Raymond James Financial Inc. purchased a new position in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Home Depot during the third quarter worth approximately $336,231,000. FMR LLC increased its position in shares of Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares during the period. Finally, Amundi increased its position in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after acquiring an additional 599,490 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial dropped their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird dropped their price objective on shares of 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 equities 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

Shares of HD opened at $347.42 on Friday. The firm has a market capitalization of $345.12 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company’s fifty day moving average price is $398.19 and its 200-day moving average price is $399.42.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm 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 dividend of $2.30 per share. The ex-dividend date 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 yield of 2.65%. Home Depot’s payout ratio is currently 61.66%.

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.