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

Los Angeles Capital Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 70.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,534 shares of the home improvement retailer’s stock after selling 64,480 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Home Depot were worth $10,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Home Depot during the 3rd quarter worth $336,231,000. FMR LLC increased its stake in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after buying an additional 518,054 shares during the period. Strategic Financial Concepts LLC boosted its stake in Home Depot by 37,025.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock worth $187,019,000 after buying an additional 479,485 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Home Depot by 2.0% in the 3rd 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 period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.7 %

Shares of HD opened at $390.40 on Thursday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The stock has a 50-day moving average price of $401.17 and a 200 day moving average price of $398.42. 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 company has a market capitalization of $387.81 billion, a P/E ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its 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. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 61.14%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Mizuho increased their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday. Royal Bank of Canada cut their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Truist Financial reduced their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Company 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.