American Century Companies Inc. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

American Century Companies Inc. raised its holdings in The Home Depot, Inc. (NYSE:HD) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 995,774 shares of the home improvement retailer’s stock after purchasing an additional 57,855 shares during the quarter. American Century Companies Inc. owned 0.10% of Home Depot worth $387,346,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth about $32,000. NewSquare Capital LLC boosted its stake in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the 3rd quarter worth about $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $352.12 on Friday. 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 stock has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09. The company has a 50 day moving average price of $393.97 and a 200 day moving average price of $398.66. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating 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 company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company posted $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HD shares. Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target 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. Finally, Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $436.50.

About Home Depot

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.