Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in The Home Depot, Inc. (NYSE:HD)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in The Home Depot, Inc. (NYSE:HD) by 8.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,690,570 shares of the home improvement retailer’s stock after acquiring an additional 134,453 shares during the period. Home Depot accounts for approximately 0.6% of Mitsubishi UFJ Asset Management Co. Ltd.’s portfolio, making the stock its 29th largest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Home Depot were worth $657,936,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the third quarter valued at $41,000. Finally, Marshall Investment Management LLC bought a new position in Home Depot during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.3 %

HD opened at $362.01 on Thursday. The firm has a market cap of $359.61 billion, a P/E ratio of 24.59, a PEG ratio of 4.03 and a beta of 1.09. The business’s fifty day simple moving average is $391.94 and its 200 day simple moving average is $398.90. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. 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 quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The company 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 firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $2.82 EPS. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.54%. Home Depot’s payout ratio is 61.66%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HD shares. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Robert W. Baird lowered their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Truist Financial dropped their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $435.85.

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.