Northern Trust Corp Purchases 1,424,857 Shares of The Home Depot, Inc. (NYSE:HD)

Northern Trust Corp raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,149,890 shares of the home improvement retailer's stock after purchasing an additional 1,424,857 shares during the period. Home Depot accounts for approximately 0.7% of Northern Trust Corp's portfolio, making the stock its 20th largest holding. Northern Trust Corp owned 1.22% of Home Depot worth $4,726,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $32,000. Quarry LP lifted its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $39,000. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Stock Down 0.6 %

NYSE HD opened at $357.62 on Monday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $355.49 billion, a PE ratio of 24.29, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The business's 50-day moving average is $363.97 and its 200 day moving average is $392.11.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.57%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio is presently 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.

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