Generali Investments Management Co LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Generali Investments Management Co LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, Holdings Channel.com reports. The fund purchased 11,563 shares of the home improvement retailer’s stock, valued at approximately $4,498,000. Home Depot makes up 1.2% of Generali Investments Management Co LLC’s portfolio, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GM Advisory Group LLC raised its holdings in Home Depot by 8.3% in the 4th quarter. GM Advisory Group LLC now owns 5,928 shares of the home improvement retailer’s stock worth $2,306,000 after purchasing an additional 454 shares during the period. Investment House LLC raised its holdings in Home Depot by 1.2% in the 4th quarter. Investment House LLC now owns 15,716 shares of the home improvement retailer’s stock worth $6,113,000 after purchasing an additional 183 shares during the period. Vinva Investment Management Ltd raised its holdings in Home Depot by 29.1% in the 4th quarter. Vinva Investment Management Ltd now owns 37,751 shares of the home improvement retailer’s stock worth $14,701,000 after purchasing an additional 8,499 shares during the period. Stokes Family Office LLC raised its holdings in Home Depot by 6.9% in the 4th quarter. Stokes Family Office LLC now owns 19,510 shares of the home improvement retailer’s stock worth $7,589,000 after purchasing an additional 1,260 shares during the period. Finally, North Forty Two & Co. bought a new position in Home Depot in the 4th quarter worth $458,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 1.3 %

Shares of NYSE HD opened at $349.39 on Wednesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $347.07 billion, a P/E ratio of 23.74, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a 50-day simple moving average of $396.03 and a two-hundred day simple moving average of $399.40.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company 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. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.63%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.