Treasurer of the State of North Carolina Increases Stake in The Home Depot, Inc. (NYSE:HD)

Treasurer of the State of North Carolina grew its stake in The Home Depot, Inc. (NYSE:HD) by 11.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 484,877 shares of the home improvement retailer’s stock after purchasing an additional 51,190 shares during the period. Home Depot accounts for 0.7% of Treasurer of the State of North Carolina’s portfolio, making the stock its 18th biggest position. Treasurer of the State of North Carolina’s holdings in Home Depot were worth $188,612,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $32,000. Sellwood Investment Partners LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC increased its holdings in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a report on Tuesday. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird dropped 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. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Price Performance

HD stock opened at $354.24 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market capitalization of $352.13 billion, a PE ratio of 24.07, a P/E/G ratio of 4.03 and a beta of 1.09. The firm has a 50-day moving average of $377.57 and a two-hundred day moving average of $396.60.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating 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 company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is 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.