AIA Group Ltd Cuts Position in The Home Depot, Inc. (NYSE:HD)

AIA Group Ltd lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 135,164 shares of the home improvement retailer’s stock after selling 17,828 shares during the period. Home Depot comprises about 1.3% of AIA Group Ltd’s portfolio, making the stock its 16th biggest position. AIA Group Ltd’s holdings in Home Depot were worth $52,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at about $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot during the fourth quarter valued at $2,212,546,000. Proficio Capital Partners LLC increased its position in Home Depot by 21,394.9% during 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. Vanguard Group Inc. raised its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Finally, Amundi lifted its holdings in Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Truist Financial dropped their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Down 1.3 %

HD stock opened at $357.86 on Monday. The firm has a fifty day moving average price of $389.98 and a two-hundred day moving average price of $398.99. 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 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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 net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $2.82 earnings per share. Research analysts predict 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 was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was 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 2.57%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.