Capital World Investors Trims Stake in The Home Depot, Inc. (NYSE:HD)

Capital World Investors decreased its stake in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,652,079 shares of the home improvement retailer’s stock after selling 4,148,985 shares during the period. Home Depot accounts for 1.2% of Capital World Investors’ investment portfolio, making the stock its 14th biggest position. Capital World Investors owned approximately 1.98% of Home Depot worth $7,644,513,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Carbahal Olsen Financial Services Group LLC acquired a new position in Home Depot in the 4th quarter valued at about $200,000. Dimensional Fund Advisors LP grew its holdings in shares of Home Depot by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,940,562 shares of the home improvement retailer’s stock worth $1,921,854,000 after buying an additional 122,482 shares in the last quarter. Elevatus Welath Management acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $274,000. First Trust Advisors LP lifted its stake in shares of Home Depot by 4.9% during the fourth quarter. First Trust Advisors LP now owns 680,703 shares of the home improvement retailer’s stock valued at $264,786,000 after buying an additional 31,948 shares during the period. Finally, Forum Financial Management LP boosted its position in Home Depot by 4.6% during the fourth quarter. Forum Financial Management LP now owns 15,364 shares of the home improvement retailer’s stock worth $5,976,000 after acquiring an additional 682 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on HD. JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reduced their price objective on 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. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $434.08.

Get Our Latest Report on HD

Home Depot Stock Performance

NYSE:HD opened at $354.85 on Friday. The firm’s 50-day moving average is $369.30 and its 200-day moving average is $394.32. 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 company has a market cap of $352.73 billion, a price-to-earnings ratio of 24.11, a PEG 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.

Home Depot (NYSE:HDGet Free Report) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The business 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 firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.82 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.59%. Home Depot’s dividend payout ratio is presently 61.66%.

Home Depot Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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