Arrowstreet Capital Limited Partnership Has $756.78 Million Stake in The Home Depot, Inc. (NYSE:HD)

Arrowstreet Capital Limited Partnership cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,945,510 shares of the home improvement retailer’s stock after selling 112,543 shares during the quarter. Home Depot makes up approximately 0.6% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 24th biggest position. Arrowstreet Capital Limited Partnership owned 0.20% of Home Depot worth $756,784,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. K.J. Harrison & Partners Inc boosted its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the period. Pensionfund Sabic boosted its stake in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Wedmont Private Capital increased its position in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC bought a new position in Home Depot during the fourth quarter worth $1,793,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Performance

NYSE HD opened at $357.86 on Friday. The company has a fifty day moving average price of $389.98 and a 200-day moving average price of $398.80. The firm has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the firm posted $2.82 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

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