Phoenix Financial Ltd. Increases Position in The Home Depot, Inc. (NYSE:HD)

Phoenix Financial Ltd. boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 62.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,040 shares of the home improvement retailer's stock after acquiring an additional 12,342 shares during the period. Phoenix Financial Ltd.'s holdings in Home Depot were worth $12,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Norges Bank purchased a new stake in Home Depot during the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC grew its position in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. raised its position in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Home Depot by 559.5% during the 4th quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer's stock worth $387,706,000 after acquiring an additional 875,591 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

HD traded up $1.08 during trading on Monday, hitting $354.94. The stock had a trading volume of 885,501 shares, compared to its average volume of 3,479,608. The firm has a market capitalization of $352.82 billion, a P/E ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09. The company's 50-day moving average price is $375.29 and its 200 day moving average price is $395.97. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 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 analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HD shares. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Robert W. Baird dropped their price objective on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Gordon Haskett cut shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Truist Financial reduced their price objective on Home Depot from $437.00 to $391.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

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.