The Home Depot, Inc. (NYSE:HD) Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 72.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,448 shares of the home improvement retailer's stock after selling 19,162 shares during the quarter. Westpac Banking Corp's holdings in Home Depot were worth $2,897,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC increased its position in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter valued at $5,032,910,000. Fisher Asset Management LLC boosted its holdings in shares of Home Depot by 1.3% in 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 purchasing an additional 125,441 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Home Depot by 5.5% during the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer's stock worth $3,521,173,000 after purchasing an additional 468,203 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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Home Depot Stock Performance

NYSE:HD traded down $16.45 during midday trading on Monday, hitting $337.45. The company's stock had a trading volume of 3,032,569 shares, compared to its average volume of 3,456,763. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market cap of $335.44 billion, a P/E ratio of 22.92, a P/E/G ratio of 4.03 and a beta of 1.09. The firm's 50 day moving average is $384.89 and its 200-day moving average is $398.35.

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 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 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 company posted $2.82 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is 61.66%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HD shares. 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. KGI Securities raised Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Robert W. Baird lowered their target price on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.