Geode Capital Management LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Geode Capital Management LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,957,463 shares of the home improvement retailer's stock after buying an additional 257,036 shares during the period. Home Depot accounts for about 0.7% of Geode Capital Management LLC's portfolio, making the stock its 19th largest holding. Geode Capital Management LLC owned 2.21% of Home Depot worth $8,525,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. National Wealth Management Group LLC acquired a new stake in Home Depot in the 4th quarter valued at about $238,000. Nemes Rush Group LLC grew its holdings in Home Depot by 6.3% in the 4th quarter. Nemes Rush Group LLC now owns 49,081 shares of the home improvement retailer's stock valued at $19,092,000 after buying an additional 2,919 shares in the last quarter. StoneX Group Inc. grew its holdings in Home Depot by 26.7% in the 4th quarter. StoneX Group Inc. now owns 22,091 shares of the home improvement retailer's stock valued at $8,593,000 after buying an additional 4,656 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Home Depot by 3.9% in the 4th quarter. HighPoint Advisor Group LLC now owns 34,111 shares of the home improvement retailer's stock worth $14,163,000 after acquiring an additional 1,266 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Home Depot by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 3,295,599 shares of the home improvement retailer's stock worth $1,281,954,000 after acquiring an additional 45,459 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HD shares. JPMorgan Chase & Co. raised their price objective 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. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and raised their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Robert W. Baird decreased their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $435.85.

Home Depot Stock Up 1.6 %

Shares of HD stock traded up $5.73 during trading hours on Wednesday, reaching $371.25. 3,178,686 shares of the stock were exchanged, compared to its average volume of 3,446,570. The business's fifty day moving average is $388.06 and its two-hundred day moving average is $398.84. The firm has a market capitalization of $369.03 billion, a P/E ratio of 25.22, a P/E/G ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month 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.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is 61.66%.

Home Depot Company 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.