The Home Depot, Inc. (NYSE:HD) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,371 shares of the home improvement retailer’s stock after selling 17,895 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Home Depot were worth $140,959,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wealth Dimensions Group Ltd. lifted its stake in shares of Home Depot by 22.7% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 2,863 shares of the home improvement retailer’s stock worth $1,114,000 after purchasing an additional 529 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Home Depot by 27.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 66,893 shares of the home improvement retailer’s stock valued at $26,021,000 after buying an additional 14,268 shares during the period. Tradition Wealth Management LLC lifted its position in Home Depot by 0.7% during the 4th quarter. Tradition Wealth Management LLC now owns 4,307 shares of the home improvement retailer’s stock worth $1,675,000 after acquiring an additional 29 shares in the last quarter. Transce3nd LLC purchased a new position in Home Depot in the 4th quarter worth approximately $425,000. Finally, Landing Point Financial Group LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $419,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.6 %

Shares of Home Depot stock opened at $354.85 on Monday. 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. The business’s fifty day moving average price is $369.30 and its two-hundred day moving average price is $394.08. The company has a market capitalization of $352.73 billion, a P/E ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’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 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $434.08.

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.