PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,530 shares of the home improvement retailer’s stock, valued at approximately $12,226,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Norges Bank acquired a new position in Home Depot during the fourth quarter worth about $4,850,329,000. Wellington Management Group LLP grew its position in Home Depot by 60.8% during the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after buying an additional 3,836,051 shares during the period. Vanguard Group Inc. grew its position in Home Depot by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock worth $34,284,672,000 after buying an additional 1,325,748 shares during the period. Franklin Resources Inc. grew its position in Home Depot by 37.6% during the third quarter. Franklin Resources Inc. now owns 3,806,308 shares of the home improvement retailer’s stock worth $1,542,278,000 after buying an additional 1,040,577 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Home Depot by 215.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,248,615 shares of the home improvement retailer’s stock worth $429,648,000 after buying an additional 852,719 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.
Home Depot Stock Up 0.3%
Shares of NYSE HD opened at $310.73 on Friday. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The company has a market capitalization of $309.83 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 3.58 and a beta of 0.97. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The firm’s 50-day moving average is $322.95 and its two-hundred day moving average is $347.74.
Home Depot Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, June 4th. Home Depot’s dividend payout ratio is 66.19%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Home Depot from $423.00 to $396.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Bank of America assumed coverage on shares of Home Depot in a research report on Tuesday, May 5th. They set a “buy” rating and a $374.00 target price on the stock. Guggenheim restated a “buy” rating and set a $425.00 target price on shares of Home Depot in a research report on Wednesday, May 20th. BNP Paribas Exane reduced their price target on shares of Home Depot from $348.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. Finally, Stifel Nicolaus reduced their price target on shares of Home Depot from $375.00 to $320.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Nineteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $371.36.
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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