Allstate Corp Has $11.47 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Allstate Corp boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3,225.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,498 shares of the home improvement retailer’s stock after buying an additional 28,611 shares during the quarter. Allstate Corp’s holdings in Home Depot were worth $11,474,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the 3rd quarter worth $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot during the 4th quarter worth about $41,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HD shares. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial cut their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Robert W. Baird reduced their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

HD opened at $357.86 on Friday. The business’s 50-day simple moving average is $389.98 and its 200 day simple moving average is $398.60. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $355.72 billion, a PE ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 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.