BNP Paribas Acquires 5,234 Shares of The Home Depot, Inc. (NYSE:HD)

BNP Paribas lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 16.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,491 shares of the home improvement retailer’s stock after buying an additional 5,234 shares during the quarter. BNP Paribas’ holdings in Home Depot were worth $14,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter worth about $5,032,910,000. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the 4th quarter worth $2,212,546,000. Proficio Capital Partners LLC grew its stake in shares of 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. Northern Trust Corp raised its position in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Up 1.7 %

HD stock opened at $364.41 on Friday. The company has a market capitalization of $362.24 billion, a PE ratio of 24.76, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The firm’s 50-day moving average is $360.97 and its 200 day moving average is $390.34.

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. The firm had revenue of $39.70 billion during 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 company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $434.08.

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.