Premier Fund Managers Ltd Purchases New Position in The Home Depot, Inc. (NYSE:HD)

Premier Fund Managers Ltd purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 51,395 shares of the home improvement retailer's stock, valued at approximately $20,023,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. SYM FINANCIAL Corp increased its stake in Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer's stock valued at $777,000 after buying an additional 289 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock valued at $596,140,000 after acquiring an additional 141,915 shares during the last quarter. United Bank raised its holdings in Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer's stock worth $1,806,000 after acquiring an additional 181 shares in the last quarter. Algert Global LLC acquired a new position in Home Depot during the third quarter valued at approximately $649,000. Finally, Cynosure Group LLC grew its stake in Home Depot by 57.4% in the third quarter. Cynosure Group LLC now owns 930 shares of the home improvement retailer's stock valued at $377,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Price Performance

NYSE:HD traded up $4.82 during mid-day trading on Monday, reaching $362.97. The stock had a trading volume of 1,276,401 shares, compared to its average volume of 3,493,635. The stock has a 50-day simple moving average of $389.98 and a two-hundred day simple moving average of $398.99. 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 Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market capitalization of $360.81 billion, a PE ratio of 24.67, a P/E/G ratio of 4.03 and a beta of 1.09.

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Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the previous year, the business posted $2.82 earnings per share. The business's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities 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 disclosed 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. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. 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 dividend payout ratio (DPR) is 61.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HD shares. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Wedbush reiterated an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Wells Fargo & Company raised their target price 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. Finally, Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $435.85.

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.