Jensen Investment Management Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Jensen Investment Management Inc. lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 484,242 shares of the home improvement retailer’s stock after selling 5,871 shares during the period. Home Depot accounts for 1.7% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Jensen Investment Management Inc.’s holdings in Home Depot were worth $188,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. K.J. Harrison & Partners Inc grew its position in shares of Home Depot by 65.2% in 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 boosted its holdings in Home Depot by 19.5% in 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 acquiring an additional 3,873 shares during the last quarter. Pensionfund Sabic boosted its holdings in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Swedbank AB boosted its holdings in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial reduced their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Up 1.1 %

Shares of NYSE HD opened at $351.16 on Monday. 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 firm has a market cap of $348.83 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The stock’s 50-day simple moving average is $397.43 and its 200-day simple moving average is $399.63.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (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 for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.62%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 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.