Grantham Mayo Van Otterloo & Co. LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,035 shares of the home improvement retailer’s stock after selling 95 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Home Depot were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Principal Financial Group Inc. grew its stake in shares of Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares during the period. United Bank increased its stake in Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after acquiring an additional 181 shares during the last quarter. Morse Asset Management Inc raised its holdings in shares of Home Depot by 12.9% in the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after purchasing an additional 3,493 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at about $41,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Home Depot by 3.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 520,013 shares of the home improvement retailer’s stock worth $210,709,000 after purchasing an additional 17,269 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HD has been the topic of several research reports. Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Price Performance

NYSE HD opened at $340.95 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a market cap of $338.91 billion, a PE ratio of 23.16, a PEG ratio of 4.03 and a beta of 1.09. The stock’s 50-day moving average price is $383.21 and its two-hundred day moving average price is $398.00.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, 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 paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.