BI Asset Management Fondsmaeglerselskab A S Grows Stake in The Home Depot, Inc. (NYSE:HD)

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 24.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 109,195 shares of the home improvement retailer’s stock after purchasing an additional 21,604 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Home Depot were worth $42,476,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HD. Vanguard Group Inc. boosted its position in shares of Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth approximately $5,032,910,000. Capital Research Global Investors lifted its stake in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after buying an additional 647,552 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after buying an additional 125,441 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE:HD opened at $354.85 on Friday. The company has a market cap of $352.73 billion, a P/E ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The business’s 50-day simple moving average is $369.30 and its 200 day simple moving average is $394.32. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.82 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.59%. 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 payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reduced their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price target 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. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.