American Century Companies Inc. Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

American Century Companies Inc. lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 995,774 shares of the home improvement retailer’s stock after purchasing an additional 57,855 shares during the period. American Century Companies Inc.’s holdings in Home Depot were worth $387,346,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $32,000. NewSquare Capital LLC lifted its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the 3rd quarter worth $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of several research analyst reports. Piper Sandler cut their price target 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. Royal Bank of Canada cut their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Down 1.0 %

HD stock opened at $352.12 on Friday. The company has a market cap of $349.78 billion, a P/E ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company’s 50-day moving average price is $393.97 and its 200 day moving average price is $398.66. 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 released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for 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 revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 earnings per share. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.61%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Home Depot Company 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.