The Home Depot, Inc. (NYSE:HD) Stock Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,494,928 shares of the home improvement retailer’s stock after purchasing an additional 36,876 shares during the period. Home Depot comprises about 0.6% of California Public Employees Retirement System’s investment portfolio, making the stock its 23rd biggest holding. California Public Employees Retirement System owned about 0.25% of Home Depot worth $970,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $39,000. Finally, NewSquare Capital LLC raised its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

HD stock opened at $357.86 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a 50-day moving average of $389.98 and a two-hundred day moving average of $398.80. The firm has a market capitalization of $355.72 billion, a PE ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid 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 yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HD shares. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Robert W. Baird dropped their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $435.85.

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.