Victory Capital Management Inc. Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Victory Capital Management Inc. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.5% in the 4th quarter, Holdings Channel.com reports. 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.’s holdings in Home Depot were worth $247,879,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. K.J. Harrison & Partners Inc boosted its stake in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the period. Pensionfund Sabic boosted its stake in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB boosted its stake in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Wedmont Private Capital boosted its stake in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $1,793,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $381.55 on Wednesday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a 50-day moving average of $401.00 and a two-hundred day moving average of $399.71. The stock 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 current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly 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 business 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 revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 earnings per share. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is 61.66%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HD. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. 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. Royal Bank of Canada cut their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus upped their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI upped their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target 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.