The Home Depot, Inc. (NYSE:HD) Holdings Lifted by American Money Management LLC

American Money Management LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,865 shares of the home improvement retailer's stock after purchasing an additional 2,208 shares during the quarter. Home Depot accounts for about 1.8% of American Money Management LLC's investment portfolio, making the stock its 18th largest holding. American Money Management LLC's holdings in Home Depot were worth $9,283,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HD. Allianz SE purchased a new stake in shares of Home Depot in the fourth quarter worth about $13,488,000. Hobbs Group Advisors LLC raised its stake in shares of Home Depot by 7.5% during the fourth quarter. Hobbs Group Advisors LLC now owns 1,205 shares of the home improvement retailer's stock valued at $469,000 after purchasing an additional 84 shares during the period. Allstate Corp lifted its position in shares of Home Depot by 3,225.6% during the fourth quarter. Allstate Corp now owns 29,498 shares of the home improvement retailer's stock worth $11,474,000 after purchasing an additional 28,611 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Home Depot by 1.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 36,447 shares of the home improvement retailer's stock valued at $14,178,000 after purchasing an additional 626 shares during the period. Finally, RiverFront Investment Group LLC lifted its holdings in Home Depot by 3.7% in the 4th quarter. RiverFront Investment Group LLC now owns 3,758 shares of the home improvement retailer's stock worth $1,462,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

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Home Depot Price Performance

Home Depot stock traded down $1.63 during mid-day trading on Tuesday, hitting $364.86. The company's stock had a trading volume of 1,798,289 shares, compared to its average volume of 3,447,912. The stock has a market capitalization of $362.68 billion, a P/E ratio of 24.79, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock's fifty day moving average price is $389.13 and its two-hundred day moving average price is $398.94. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the previous year, the firm posted $2.82 EPS. The company's quarterly revenue was up 14.1% on a year-over-year basis. Research 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. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $435.85.

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.