The Home Depot, Inc. (NYSE:HD) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 6.6% during the 4th quarter, Holdings Channel reports. The fund owned 485,899 shares of the home improvement retailer’s stock after selling 34,114 shares during the period. Home Depot comprises about 0.6% of Nomura Asset Management Co. Ltd.’s portfolio, making the stock its 25th biggest position. Nomura Asset Management Co. Ltd.’s holdings in Home Depot were worth $189,010,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Home Depot in the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% during 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 buying an additional 875,836 shares during the last quarter. Finally, Amundi raised its position 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 worth $2,925,498,000 after buying an additional 599,490 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HD. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial lowered 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. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned 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 price target of $435.85.

Home Depot Stock Up 0.2 %

HD opened at $362.96 on Friday. The company has a market cap of $360.55 billion, a P/E ratio of 24.66, a P/E/G 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. The business’s 50-day moving average price is $391.01 and its 200-day moving average price is $398.65. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the business posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.53%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. 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.