The Home Depot, Inc. (NYSE:HD) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,898 shares of the home improvement retailer’s stock after buying an additional 10,083 shares during the quarter. Home Depot makes up about 0.6% of QRG Capital Management Inc.’s holdings, making the stock its 28th largest position. QRG Capital Management Inc.’s holdings in Home Depot were worth $56,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. AMF Tjanstepension AB raised its stake in shares of Home Depot by 10.8% during the 3rd quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock worth $69,340,000 after buying an additional 16,650 shares during the last quarter. SYM FINANCIAL Corp increased its position in Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares in the last quarter. Wealth Group Ltd. purchased a new stake in Home Depot during the 3rd quarter worth about $217,000. Swedbank AB increased its position in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Finally, Forbes J M & Co. LLP increased its position in Home Depot by 0.3% during the 3rd quarter. Forbes J M & Co. LLP now owns 24,331 shares of the home improvement retailer’s stock worth $9,859,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HD shares. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday. Barclays lifted their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial dropped their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Home Depot stock opened at $390.40 on Thursday. The stock’s 50 day moving average price is $401.17 and its 200 day moving average price is $398.42. The firm has a market capitalization of $387.81 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.36%. Home Depot’s payout ratio is 61.14%.

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.