Allianz SE Invests $13.49 Million in The Home Depot, Inc. (NYSE:HD)

Allianz SE acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,635 shares of the home improvement retailer’s stock, valued at approximately $13,488,000.

Other hedge funds also recently bought and sold shares of the company. SYM FINANCIAL Corp raised its holdings in Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the last quarter. Principal Financial Group Inc. raised its position in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after purchasing an additional 141,915 shares during the last quarter. United Bank lifted its holdings in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares during the period. Algert Global LLC bought a new stake in shares of Home Depot in the 3rd quarter worth approximately $649,000. Finally, Cynosure Group LLC lifted its stake in Home Depot by 57.4% in the third quarter. Cynosure Group LLC now owns 930 shares of the home improvement retailer’s stock worth $377,000 after acquiring an additional 339 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Robert W. Baird lowered their target price 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. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine equities research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Down 1.3 %

HD opened at $357.86 on Friday. The stock has a market capitalization of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. The firm has a 50 day moving average price of $389.98 and a 200-day moving average price of $398.60. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. Home Depot’s dividend 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.