Strategy Asset Managers LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Strategy Asset Managers LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,895 shares of the home improvement retailer’s stock after selling 61 shares during the period. Home Depot comprises 1.2% of Strategy Asset Managers LLC’s holdings, making the stock its 28th biggest holding. Strategy Asset Managers LLC’s holdings in Home Depot were worth $6,183,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in Home Depot in the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. acquired a new stake in Home Depot in the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC increased its stake in shares of Home Depot by 21,394.9% in 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. Vanguard Group Inc. raised its holdings in shares of Home Depot by 0.9% during the fourth 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. Finally, Amundi boosted its holdings in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler lowered 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. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Price Performance

Shares of HD stock opened at $357.86 on Friday. 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 company has a market capitalization of $355.72 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The firm’s 50-day moving average is $389.98 and its two-hundred day moving average is $398.60. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

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

Home Depot Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.57%. Home Depot’s dividend payout ratio is currently 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.