Arrowstreet Capital Limited Partnership Trims Position in The Home Depot, Inc. (NYSE:HD)

Arrowstreet Capital Limited Partnership lessened its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,945,510 shares of the home improvement retailer's stock after selling 112,543 shares during the quarter. Home Depot accounts for 0.6% of Arrowstreet Capital Limited Partnership's portfolio, making the stock its 24th largest position. Arrowstreet Capital Limited Partnership owned about 0.20% of Home Depot worth $756,784,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. K.J. Harrison & Partners Inc lifted its position in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock worth $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after buying an additional 3,873 shares during the period. Pensionfund Sabic lifted its holdings in Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after buying an additional 3,800 shares in the last quarter. Wedmont Private Capital boosted its position in Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock valued at $5,291,000 after buying an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter valued at about $1,793,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Home Depot Stock Down 0.4 %

Shares of HD stock traded down $1.63 during trading hours on Tuesday, reaching $364.86. 1,798,289 shares of the company's stock were exchanged, compared to its average volume of 3,447,912. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $362.68 billion, a PE ratio of 24.79, a PEG ratio of 4.03 and a beta of 1.09. The stock's fifty day moving average price is $389.13 and its two-hundred day moving average price is $398.94.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company 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 revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. Home Depot's dividend payout ratio (DPR) is 61.66%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Guggenheim reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, 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 report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.