Resona Asset Management Co. Ltd. Takes Position in The Home Depot, Inc. (NYSE:HD)

Resona Asset Management Co. Ltd. purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, Holdings Channel.com reports. The fund purchased 299,690 shares of the home improvement retailer’s stock, valued at approximately $116,745,000. Home Depot accounts for approximately 0.7% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $32,000. Sellwood Investment Partners LLC bought a new position in Home Depot during the fourth quarter valued at about $39,000. Finally, NewSquare Capital LLC increased its holdings in Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Truist Financial decreased their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 0.6 %

Shares of Home Depot stock opened at $353.78 on Friday. The company has a 50 day simple moving average of $384.89 and a two-hundred day simple moving average of $398.15. The firm has a market cap of $351.67 billion, a PE ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. 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.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Home Depot Company 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.