The Home Depot, Inc. (NYSE:HD) Shares Acquired by TD Asset Management Inc.

TD Asset Management Inc. boosted its position in The Home Depot, Inc. (NYSE:HD) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,644,440 shares of the home improvement retailer’s stock after buying an additional 62,676 shares during the quarter. TD Asset Management Inc.’s holdings in Home Depot were worth $639,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. SYM FINANCIAL Corp grew its position in shares of Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after buying an additional 289 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares during the last quarter. United Bank grew its holdings in Home Depot by 4.2% during the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after acquiring an additional 181 shares in the last quarter. Algert Global LLC bought a new stake in shares of Home Depot in the 3rd quarter worth about $649,000. Finally, Centaurus Financial Inc. raised its stake in shares of Home Depot by 0.8% in the 3rd quarter. Centaurus Financial Inc. now owns 4,453 shares of the home improvement retailer’s stock valued at $1,805,000 after purchasing an additional 35 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HD shares. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lifted their price objective 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. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine investment 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. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

HD stock opened at $363.97 on Tuesday. The company has a market capitalization of $361.55 billion, a P/E ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a 50-day simple moving average of $393.46 and a 200 day simple moving average of $399.16. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $39.15 billion. During the same period last year, the firm posted $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 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.