Arizona State Retirement System Buys 4,366 Shares of The Home Depot, Inc. (NYSE:HD)

Arizona State Retirement System raised its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,685 shares of the home improvement retailer's stock after purchasing an additional 4,366 shares during the period. Home Depot accounts for approximately 0.7% of Arizona State Retirement System's holdings, making the stock its 20th biggest holding. Arizona State Retirement System's holdings in Home Depot were worth $112,296,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. K.J. Harrison & Partners Inc lifted its holdings in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Pensionfund Sabic raised its stake in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB grew its position in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Wedmont Private Capital grew its position in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock valued at $5,291,000 after acquiring an additional 1,506 shares during the last quarter. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth about $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. 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 note on Wednesday, February 26th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and lifted their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Piper Sandler lowered their target price on Home Depot from $455.00 to $435.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $436.50.

Home Depot Stock Up 1.3 %

HD traded up $5.14 during trading hours on Wednesday, reaching $386.82. 2,779,754 shares of the stock traded hands, compared to its average volume of 3,301,894. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week 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 company has a market cap of $384.25 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.03 and a beta of 1.05. The firm's fifty day simple moving average is $400.81 and its two-hundred day simple moving average is $399.62.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $2.82 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, March 13th. Home Depot's dividend payout ratio (DPR) 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.