Pictet Asset Management Holding SA Raises Position in The Home Depot, Inc. (NYSE:HD)

Pictet Asset Management Holding SA raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 21.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,049,746 shares of the home improvement retailer’s stock after purchasing an additional 183,267 shares during the period. Pictet Asset Management Holding SA owned 0.11% of Home Depot worth $408,341,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HD. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $32,000. Sellwood Investment Partners LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $39,000. Finally, NewSquare Capital LLC boosted its holdings in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.2 %

Shares of NYSE HD opened at $362.96 on Friday. 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 quick ratio of 0.31 and a current ratio of 1.13. The company has a market cap of $360.55 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.03 and a beta of 1.09. The business’s 50 day moving average price is $391.01 and its 200-day moving average price is $398.65.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent analyst reports. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird dropped their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot 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 assigned 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.

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.