Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Position in The Home Depot, Inc. (NYSE:HD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,204 shares of the home improvement retailer’s stock after selling 4,661 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Home Depot were worth $82,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in HD. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth about $2,212,546,000. Proficio Capital Partners LLC boosted its stake in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Home Depot during the 3rd quarter worth approximately $336,231,000. FMR LLC increased its stake in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, Amundi raised its holdings in shares of Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after buying an additional 599,490 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE:HD opened at $353.35 on Thursday. The company’s 50-day moving average is $395.36 and its two-hundred day moving average is $399.08. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. 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 firm has a market capitalization of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS 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 analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

HD has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Robert W. Baird dropped their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus 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.