HighPoint Advisor Group LLC Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

HighPoint Advisor Group LLC lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,111 shares of the home improvement retailer's stock after buying an additional 1,266 shares during the period. Home Depot makes up about 0.8% of HighPoint Advisor Group LLC's investment portfolio, making the stock its 23rd biggest position. HighPoint Advisor Group LLC's holdings in Home Depot were worth $14,163,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC increased its holdings in Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer's stock valued at $8,767,449,000 after buying an additional 433,126 shares during the last quarter. Norges Bank bought a new position in Home Depot in the fourth quarter worth approximately $5,032,910,000. Fisher Asset Management LLC boosted its stake in shares of Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer's stock worth $3,715,668,000 after acquiring an additional 125,441 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Home Depot by 5.5% during the 4th quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer's stock valued at $3,521,173,000 after acquiring an additional 468,203 shares during the period. Institutional investors own 70.86% of the company's stock.

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Analyst Ratings Changes

HD has been the topic of a number of recent research reports. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Robert W. Baird cut their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Truist Financial decreased their target price on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted 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. Nine equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $435.85.

Home Depot Stock Performance

Shares of NYSE HD traded up $5.73 during midday trading on Wednesday, reaching $371.25. 3,168,296 shares of the stock were exchanged, compared to its average volume of 3,446,512. 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 firm has a market cap of $369.03 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 4.03 and a beta of 1.08. The firm has a 50-day simple moving average of $388.06 and a two-hundred day simple moving average of $398.84. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 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.