Victory Capital Management Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Victory Capital Management Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 637,238 shares of the home improvement retailer's stock after selling 9,582 shares during the period. Victory Capital Management Inc. owned 0.06% of Home Depot worth $247,879,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in Home Depot during the fourth quarter valued at $115,000. Alley Investment Management Company LLC lifted its position in Home Depot by 2.0% during the fourth quarter. Alley Investment Management Company LLC now owns 53,639 shares of the home improvement retailer's stock valued at $20,865,000 after purchasing an additional 1,060 shares during the last quarter. Ring Mountain Capital LLC bought a new position in Home Depot during the fourth quarter valued at $343,000. Exencial Wealth Advisors LLC lifted its position in Home Depot by 12.7% during the fourth quarter. Exencial Wealth Advisors LLC now owns 7,746 shares of the home improvement retailer's stock valued at $3,013,000 after purchasing an additional 875 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in Home Depot by 619.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 183,949 shares of the home improvement retailer's stock valued at $71,554,000 after purchasing an additional 158,392 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Stifel Nicolaus increased their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Evercore ISI raised their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $436.50.

Home Depot Stock Performance

NYSE HD traded up $5.14 on Wednesday, hitting $386.82. 2,779,754 shares of the company's stock traded hands, compared to its average volume of 3,301,894. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm's 50-day moving average price is $400.81 and its two-hundred day moving average price is $399.62. The firm has a market capitalization of $384.25 billion, a PE ratio of 26.28, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the previous year, the business posted $2.82 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, March 13th. Home Depot's payout ratio is currently 61.66%.

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.