Allstate Corp Buys 28,611 Shares of The Home Depot, Inc. (NYSE:HD)

Allstate Corp increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3,225.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,498 shares of the home improvement retailer’s stock after acquiring an additional 28,611 shares during the quarter. Allstate Corp’s holdings in Home Depot were worth $11,474,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC raised its stake in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares in the last quarter. Insight Inv LLC grew its stake in shares of Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC grew its holdings in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC increased its holdings in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HD. 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 research note on Monday, March 24th. Wells Fargo & Company upped their target price 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. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Down 1.3 %

Shares of HD stock opened at $357.86 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market cap of $355.72 billion, a P/E ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a 50 day simple moving average of $389.98 and a two-hundred day simple moving average of $398.60.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. Home Depot’s dividend 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.