Ellevest Inc. increased its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 7.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,585 shares of the home improvement retailer’s stock after acquiring an additional 180 shares during the period. Ellevest Inc.’s holdings in Home Depot were worth $1,073,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of HD. Jennison Associates LLC lifted its position in Home Depot by 84.7% in the third quarter. Jennison Associates LLC now owns 3,983,358 shares of the home improvement retailer’s stock worth $1,307,577,000 after buying an additional 1,826,227 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Home Depot by 104.8% during the third quarter. Nordea Investment Management AB now owns 3,147,694 shares of the home improvement retailer’s stock worth $1,054,478,000 after purchasing an additional 1,611,109 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Home Depot by 11.4% during the third quarter. UBS Asset Management Americas Inc. now owns 5,903,692 shares of the home improvement retailer’s stock worth $1,937,946,000 after purchasing an additional 605,827 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Home Depot by 18.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,417,943 shares of the home improvement retailer’s stock worth $1,122,117,000 after purchasing an additional 521,895 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Home Depot by 3.8% during the third quarter. Morgan Stanley now owns 11,938,903 shares of the home improvement retailer’s stock worth $3,919,065,000 after purchasing an additional 433,190 shares during the last quarter. Institutional investors own 69.52% of the company’s stock.
Several analysts have recently weighed in on the company. OTR Global upgraded Home Depot from a “mixed” rating to a “positive” rating in a research report on Tuesday, February 15th. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Friday, February 25th. The Goldman Sachs Group decreased their target price on Home Depot from $413.00 to $402.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Wells Fargo & Company lifted their target price on Home Depot from $420.00 to $460.00 in a research report on Wednesday, January 5th. Finally, Robert W. Baird decreased their price objective on Home Depot from $425.00 to $380.00 in a report on Tuesday, February 22nd. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $394.48.
Shares of HD stock opened at $315.78 on Friday. The Home Depot, Inc. has a fifty-two week low of $292.45 and a fifty-two week high of $420.61. The firm has a market capitalization of $329.75 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.18 and a beta of 1.06. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.24 and a current ratio of 1.01. The stock’s 50-day simple moving average is $341.30 and its 200-day simple moving average is $362.52.
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.20 by $0.01. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The business had revenue of $35.72 billion for the quarter, compared to analyst estimates of $34.85 billion. During the same quarter in the previous year, the firm earned $2.74 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 16.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th were paid a dividend of $1.90 per share. This is a positive change from Home Depot’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 9th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.41%. Home Depot’s payout ratio is presently 48.97%.
About Home Depot (Get Rating)
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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