The Home Depot, Inc. (NYSE:HD) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 299,584 shares of the home improvement retailer’s stock after selling 500 shares during the period. Home Depot makes up about 0.6% of State of Michigan Retirement System’s portfolio, making the stock its 26th biggest position. State of Michigan Retirement System’s holdings in Home Depot were worth $116,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. K.J. Harrison & Partners Inc grew its position in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Pensionfund Sabic boosted its holdings 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 acquiring an additional 3,800 shares during the last quarter. Swedbank AB boosted its holdings in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares during the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at $1,793,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on HD. Stifel Nicolaus upped their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Mizuho upped their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler dropped their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

Home Depot stock opened at $389.03 on Tuesday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market capitalization of $386.45 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 4.03 and a beta of 1.05. The company has a fifty day simple moving average of $401.29 and a 200-day simple moving average of $399.57. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its earnings results 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 analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. Home Depot’s dividend payout ratio is presently 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.