Allstate Corp Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Allstate Corp grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 3,225.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,498 shares of the home improvement retailer's stock after purchasing an additional 28,611 shares during the period. Allstate Corp's holdings in Home Depot were worth $11,474,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter valued at about $32,000. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at about $39,000. Finally, NewSquare Capital LLC grew its holdings in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Up 0.2 %

HD stock traded up $0.57 during mid-day trading on Tuesday, reaching $367.06. 858,001 shares of the company traded hands, compared to its average volume of 3,503,050. 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 firm's 50 day moving average price is $389.13 and its 200 day moving average price is $398.94. The stock has a market cap of $364.87 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

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Home Depot (NYSE:HD - Get Free Report) last announced its quarterly 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 return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. Home Depot's revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was 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 2.51%. Home Depot's payout ratio is 61.66%.

Analysts Set New Price Targets

Several equities research analysts recently commented on HD shares. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Guggenheim reissued a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Wedbush reiterated an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $435.85.

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.