DnB Asset Management AS Raises Stake in The Home Depot, Inc. (NYSE:HD)

DnB Asset Management AS grew its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,457 shares of the home improvement retailer's stock after buying an additional 7,138 shares during the quarter. DnB Asset Management AS's holdings in Home Depot were worth $95,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Home Depot in the fourth quarter valued at about $5,032,910,000. Raymond James Financial Inc. bought a new position in shares of Home Depot in the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Vanguard Group Inc. grew its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Finally, Amundi increased its holdings in Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer's stock valued at $2,925,498,000 after buying an additional 599,490 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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Home Depot Trading Up 1.3 %

Shares of Home Depot stock traded up $4.77 on Monday, reaching $362.92. The company had a trading volume of 1,276,401 shares, compared to its average volume of 3,441,009. The firm's 50-day moving average price is $389.98 and its two-hundred day moving average price is $398.99. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a market cap of $360.75 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analysts' expectations 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 was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush reissued an "outperform" rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. 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 analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.