Arizona State Retirement System Has $112.30 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Arizona State Retirement System grew its holdings in The Home Depot, Inc. (NYSE:HD) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 288,685 shares of the home improvement retailer’s stock after acquiring an additional 4,366 shares during the period. Home Depot comprises 0.7% of Arizona State Retirement System’s holdings, making the stock its 20th biggest position. Arizona State Retirement System’s holdings in Home Depot were worth $112,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the 3rd quarter worth $41,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Home Depot stock opened at $381.55 on Wednesday. The firm has a market cap of $379.02 billion, a P/E ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. The stock’s 50 day moving average is $401.00 and its 200 day moving average is $399.71. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. 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 announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $2.82 earnings per share. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend 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 2.41%. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HD shares. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Bank of America lifted their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot 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.