The Home Depot, Inc. (NYSE:HD) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,557,485 shares of the home improvement retailer's stock after selling 47,981 shares during the quarter. Home Depot comprises approximately 0.7% of California State Teachers Retirement System's investment portfolio, making the stock its 19th biggest holding. California State Teachers Retirement System owned 0.16% of Home Depot worth $605,846,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. K.J. Harrison & Partners Inc lifted its position in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after purchasing an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after purchasing an additional 3,873 shares during the period. Pensionfund Sabic lifted its position in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Wedmont Private Capital lifted its position in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock valued at $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Disciplined Investors L.L.C. acquired a new position in Home Depot during the fourth quarter valued at $409,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE:HD opened at $357.62 on Monday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. 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 stock has a market cap of $355.49 billion, a PE ratio of 24.29, a P/E/G ratio of 4.03 and a beta of 1.09. The stock has a 50 day moving average price of $363.97 and a 200 day moving average price of $392.11.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The business's revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Gordon Haskett downgraded shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company boosted their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Truist Financial decreased their price objective on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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