Victory Capital Management Inc. Lowers Position in The Home Depot, Inc. (NYSE:HD)

Victory Capital Management Inc. decreased its position in The Home Depot, Inc. (NYSE:HD) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 637,238 shares of the home improvement retailer’s stock after selling 9,582 shares during the period. Victory Capital Management Inc. owned about 0.06% of Home Depot worth $247,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Geode Capital Management LLC boosted its holdings in Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after buying an additional 433,126 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Home Depot by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after buying an additional 125,441 shares in the last quarter. FMR LLC boosted its holdings in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Home Depot by 5.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock worth $3,253,952,000 after buying an additional 409,890 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Home Depot by 0.3% during the third quarter. Swiss National Bank now owns 2,943,400 shares of the home improvement retailer’s stock worth $1,192,666,000 after buying an additional 9,200 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $381.55 on Wednesday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a 50 day moving average price of $401.00 and a 200 day moving average price of $399.71. The company has a market cap of $379.02 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its 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 firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler decreased their price objective 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. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Evercore ISI lifted their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.