OVERSEA CHINESE BANKING Corp Ltd Has $3.39 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,716 shares of the home improvement retailer’s stock after selling 1,336 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Home Depot were worth $3,392,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the third quarter worth about $41,000. Finally, Marshall Investment Management LLC purchased a new position in Home Depot during the fourth quarter worth about $41,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler cut their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Nine 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Up 1.1 %

Shares of HD stock opened at $353.35 on Thursday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. 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 stock has a market capitalization of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09. The company’s fifty day simple moving average is $395.36 and its two-hundred day simple moving average is $399.08.

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. 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 for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company posted $2.82 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.60%. Home Depot’s dividend payout ratio is currently 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.