Mitsubishi UFJ Asset Management Co. Ltd. Acquires 134,453 Shares of The Home Depot, Inc. (NYSE:HD)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,690,570 shares of the home improvement retailer's stock after buying an additional 134,453 shares during the quarter. Home Depot makes up about 0.6% of Mitsubishi UFJ Asset Management Co. Ltd.'s holdings, making the stock its 29th biggest position. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Home Depot worth $657,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the 4th quarter valued at $39,000. Finally, NewSquare Capital LLC lifted its stake in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE:HD traded down $4.87 during mid-day trading on Friday, reaching $357.86. 2,979,134 shares of the company were exchanged, compared to its average volume of 3,449,521. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $355.72 billion, a PE ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a fifty day moving average of $389.98 and a 200 day moving average of $398.80.

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Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. Home Depot's revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

Several research firms have commented on HD. Wedbush reissued an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Piper Sandler dropped their price target 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. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Nine equities 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, 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.