AMF Tjanstepension AB Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

AMF Tjanstepension AB decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,985 shares of the home improvement retailer’s stock after selling 13,020 shares during the period. AMF Tjanstepension AB’s holdings in Home Depot were worth $61,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. SYM FINANCIAL Corp lifted its stake in shares of Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares during the period. Wealth Group Ltd. purchased a new position in shares of Home Depot during the 3rd quarter worth about $217,000. Swedbank AB grew 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 purchasing an additional 132,967 shares during the period. Principal Financial Group Inc. increased its position in Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after purchasing an additional 141,915 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in Home Depot by 1.1% during the third quarter. Kornitzer Capital Management Inc. KS now owns 22,494 shares of the home improvement retailer’s stock worth $9,115,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $376.66 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a 50 day moving average of $400.21 and a 200-day moving average of $399.59. The stock has a market cap of $374.16 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.13 EPS 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. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

HD has been the subject of several research reports. 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, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Piper Sandler dropped their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.