PGGM Investments Grows Holdings in The Home Depot, Inc. (NYSE:HD)

PGGM Investments lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,241 shares of the home improvement retailer's stock after acquiring an additional 5,815 shares during the quarter. PGGM Investments' holdings in Home Depot were worth $12,930,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. NewSquare Capital LLC lifted its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after buying an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Home Depot in the 3rd quarter valued at $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD stock opened at $364.82 on Thursday. 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. The stock has a market cap of $362.39 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a fifty day moving average of $399.01 and a two-hundred day moving average of $399.78.

Remove Ads

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research 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. Wells Fargo & Company boosted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the company from $356.00 to $410.00 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 given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $436.50.

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.