Nippon Life Global Investors Americas Inc. Buys 1,970 Shares of The Home Depot, Inc. (NYSE:HD)

Nippon Life Global Investors Americas Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,140 shares of the home improvement retailer's stock after buying an additional 1,970 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Home Depot were worth $9,779,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new position in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the 4th quarter worth approximately $32,000. Sellwood Investment Partners LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $39,000. Finally, NewSquare Capital LLC raised its holdings in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after purchasing an additional 68 shares during the period. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HD. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Wedbush reissued an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial decreased their price objective on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Trading Up 0.9 %

Shares of HD stock traded up $3.03 during mid-day trading on Thursday, reaching $359.45. 2,746,360 shares of the stock traded hands, compared to its average volume of 3,464,879. The stock's fifty day simple moving average is $365.88 and its two-hundred day simple moving average is $393.13. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year 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. The company has a market cap of $357.30 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates 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 business earned $2.82 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.56%. Home Depot's dividend payout ratio (DPR) is 61.66%.

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.