Thrivent Financial for Lutherans Acquires 42,760 Shares of The Home Depot, Inc. (NYSE:HD)

Thrivent Financial for Lutherans boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 695,248 shares of the home improvement retailer’s stock after acquiring an additional 42,760 shares during the quarter. Home Depot makes up approximately 0.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 19th biggest holding. Thrivent Financial for Lutherans’ holdings in Home Depot were worth $270,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC lifted its position in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot during the 3rd quarter valued at about $336,231,000. FMR LLC boosted its stake in shares of Home Depot by 10.1% in the 3rd 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. Finally, Amundi grew its position in shares of Home Depot by 8.6% during the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after buying an additional 599,490 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Truist Financial cut their price target 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. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Up 0.8 %

NYSE:HD opened at $354.06 on Tuesday. The stock has a 50-day simple moving average of $396.73 and a 200 day simple moving average of $399.54. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a market cap of $351.71 billion, a PE ratio of 24.05, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping 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 net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid 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 2.60%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s 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.