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

Pictet Asset Management Holding SA boosted its position in The Home Depot, Inc. (NYSE:HD) by 21.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,049,746 shares of the home improvement retailer’s stock after purchasing an additional 183,267 shares during the period. Pictet Asset Management Holding SA’s holdings in Home Depot were worth $408,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Home Depot by 0.9% in the fourth 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of Home Depot by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after purchasing an additional 433,126 shares during the period. Norges Bank purchased a new stake in Home Depot during the fourth quarter worth $5,032,910,000. Fisher Asset Management LLC grew its position in Home Depot by 1.3% during the fourth 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after buying an additional 409,890 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. 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 investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Up 0.2 %

Shares of HD opened at $362.96 on Friday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market capitalization of $360.55 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.09. The firm has a 50-day moving average price of $391.01 and a 200 day moving average price of $398.65. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm 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 business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.82 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were 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 2.53%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is 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.