The Manufacturers Life Insurance Company reduced its stake in The Home Depot, Inc. (NYSE:HD) by 4.7% during the fourth quarter, as revealed in its recent 13F filing with the Securities and Exchange Commission (SEC). Following this adjustment, the institutional investor held 776,749 shares of the home improvement retailer’s stock, representing approximately 0.08% of Home Depot’s total worth of $302,148,000.
Other institutional investors and hedge funds have also been adjusting their positions in Home Depot. For instance, Bellwether Advisors LLC increased its holdings by 4.5% during the same period, now owning 1,167 shares valued at $454,000. Similarly, Marshall & Sterling Wealth Advisors Inc. established a new stake in Home Depot worth about $650,000. Second Half Financial Partners LLC boosted its stake by 2.9%, owning 1,061 shares valued at $413,000. Public Employees Retirement Association of Colorado increased its holdings by 0.5%, now owning 495,530 shares worth $192,756,000. Quarry LP significantly raised its holdings by 220.0%, now owning 96 shares valued at $37,000.
Institutional investors collectively own 70.86% of Home Depot’s stock. On the trading front, Home Depot’s shares opened at $357.62 on Monday. The company maintains a debt-to-equity ratio of 8.65, a current ratio of 1.13, and a quick ratio of 0.31. Home Depot’s stock has fluctuated between a 1-year low of $323.77 and a 1-year high of $439.37. The company boasts a market capitalization of $355.49 billion, with a P/E ratio of 24.29, a PEG ratio of 4.03, and a beta of 1.09. The stock’s 50-day moving average is $363.97, and its 200-day moving average stands at $392.11.
In recent financial news, Home Depot reported quarterly earnings per share (EPS) of $3.13, surpassing analysts’ consensus estimates of $3.04. The company achieved a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue reached $39.70 billion, exceeding the consensus estimate of $39.15 billion and marking a 14.1% increase from the same quarter last year. The company has also announced a quarterly dividend increase to $2.30 per share, representing an annualized dividend of $9.20 and a yield of 2.57%.
Analyst ratings for Home Depot have seen various adjustments. Hsbc Global Res upgraded its rating from ‘moderate sell’ to ‘hold’, while Truist Financial lowered its price target from $437.00 to $391.00 but maintained a ‘buy’ rating. JPMorgan Chase & Co. raised its price objective from $450.00 to $475.00 with an ‘overweight’ rating. The consensus among analysts is a ‘Moderate Buy’ with an average target price of $434.08.
