Generali Asset Management SPA SGR Purchases Shares of 121,648 The Home Depot, Inc. (NYSE:HD)

Generali Asset Management SPA SGR bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 121,648 shares of the home improvement retailer's stock, valued at approximately $47,320,000. Home Depot makes up approximately 1.2% of Generali Asset Management SPA SGR's holdings, making the stock its 15th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Home Depot during the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC lifted its holdings in Home Depot by 21,394.9% during 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 acquiring an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Home Depot in the third quarter worth $336,231,000. FMR LLC grew its stake in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer's stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the period. Finally, Amundi increased its position in shares of Home Depot by 8.6% during the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer's stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Price Performance

Shares of Home Depot stock traded up $3.80 during trading on Wednesday, hitting $353.37. 1,544,340 shares of the stock traded hands, compared to its average volume of 3,196,475. The firm's fifty day moving average is $396.03 and its 200-day moving average is $399.40. The stock has a market cap of $351.02 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the business posted $2.82 EPS. The business's quarterly revenue was up 14.1% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is 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 Analysts Forecast Growth

Several research firms recently weighed in on HD. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Truist Financial decreased their target price on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler dropped their price target on Home Depot from $455.00 to $435.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $436.50.

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.