APG Asset Management N.V. Acquires 875,591 Shares of The Home Depot, Inc. (NYSE:HD)

APG Asset Management N.V. grew its holdings in The Home Depot, Inc. (NYSE:HD) by 559.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,032,082 shares of the home improvement retailer’s stock after buying an additional 875,591 shares during the quarter. Home Depot comprises approximately 1.1% of APG Asset Management N.V.’s holdings, making the stock its 14th largest holding. APG Asset Management N.V.’s holdings in Home Depot were worth $387,706,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. K.J. Harrison & Partners Inc grew its stake in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after buying an additional 3,873 shares in the last quarter. Pensionfund Sabic grew its position 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 worth $4,357,000 after buying an additional 3,800 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares in the last quarter. Finally, Disciplined Investors L.L.C. purchased a new stake in Home Depot during the fourth quarter valued at approximately $409,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Gordon Haskett lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

Shares of NYSE HD opened at $340.95 on Tuesday. The company has a market capitalization of $338.91 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 company’s fifty day moving average price is $383.21 and its 200 day moving average price is $398.00. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its 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 business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current 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 paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.70%. This is an increase 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 presently 61.66%.

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.