Mesirow Financial Investment Management Inc. decreased its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 19.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 42,189 shares of the home improvement retailer’s stock after selling 9,985 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Home Depot were worth $14,519,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in HD. Vanguard Group Inc. raised its holdings in Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock worth $34,284,672,000 after purchasing an additional 1,325,748 shares during the last quarter. Capital Research Global Investors raised its holdings in Home Depot by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 11,400,133 shares of the home improvement retailer’s stock worth $4,619,229,000 after purchasing an additional 30,739 shares during the last quarter. Wellington Management Group LLP raised its holdings in Home Depot by 60.8% during the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after purchasing an additional 3,836,051 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Home Depot by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,130,293 shares of the home improvement retailer’s stock worth $4,104,694,000 after purchasing an additional 197,211 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Home Depot by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 6,181,165 shares of the home improvement retailer’s stock worth $2,504,546,000 after purchasing an additional 116,875 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.
Home Depot Stock Performance
Shares of HD stock opened at $302.65 on Thursday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.06 and a quick ratio of 0.26. The stock has a market cap of $301.45 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. The stock has a 50-day moving average of $334.45 and a 200-day moving average of $355.37. The Home Depot, Inc. has a one year low of $299.27 and a one year high of $426.75.
Home Depot Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a $2.33 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.30. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.1%. Home Depot’s dividend payout ratio (DPR) is currently 65.50%.
Key Home Depot News
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: J.P. Morgan reiterated a Buy rating, citing resilient spring demand, strength in professional customers, and momentum in big-ticket sales, which supports the long-term investment case for Home Depot (HD). Article Title
- Positive Sentiment: Truist kept a Buy rating even after cutting its price target to $394 from $424, suggesting analysts still see meaningful upside from current levels. Article Title
- Neutral Sentiment: Home Depot remains a popular dividend name, with several articles highlighting its income appeal and blue-chip status, which may help limit downside for income-focused investors. Article Title
- Neutral Sentiment: Investor commentary ahead of the upcoming report is mixed, with some noting the stock may still offer value after recent weakness, while others question whether the bull case can survive the print. Article Title
- Negative Sentiment: The stock has been falling ahead of earnings, with articles pointing to a multi-day pullback and a move toward a more than two-year low, signaling bearish investor sentiment before the report. Article Title
- Negative Sentiment: Analysts are expecting a decline in earnings in the upcoming quarter, adding to concerns that housing-related weakness and softer discretionary spending could pressure results. Article Title
Insider Activity at Home Depot
In other news, CFO Richard V. Mcphail sold 2,550 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the sale, the chief financial officer directly owned 44,566 shares of the company’s stock, valued at $16,439,951.74. This represents a 5.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several analysts have weighed in on the company. Guggenheim boosted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. BNP Paribas Exane dropped their price objective on Home Depot from $391.00 to $348.00 and set a “neutral” rating for the company in a report on Tuesday, March 24th. Telsey Advisory Group reissued an “outperform” rating and set a $435.00 price objective on shares of Home Depot in a report on Wednesday, March 25th. TD Cowen reissued a “buy” rating on shares of Home Depot in a report on Thursday, March 12th. Finally, Citigroup dropped their price objective on Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $408.10.
Home Depot Company Profile
The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.
Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.
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