Resona Asset Management Co. Ltd. Buys Shares of 299,690 The Home Depot, Inc. (NYSE:HD)

Resona Asset Management Co. Ltd. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 299,690 shares of the home improvement retailer’s stock, valued at approximately $116,745,000. Home Depot accounts for about 0.7% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 21st largest position.

Several other large investors have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Sellwood Investment Partners LLC bought a new stake in shares of Home Depot during the fourth quarter worth $39,000. Finally, NewSquare Capital LLC increased its holdings in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $353.78 on Friday. The business’s fifty day moving average is $384.89 and its 200 day moving average is $398.15. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $2.82 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of a number of research reports. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company upped their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Company 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.