Principal Financial Group Inc. raised its stake in shares of Home Depot Inc (NYSE:HD) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,115,260 shares of the home improvement retailer’s stock after acquiring an additional 45,429 shares during the quarter. Principal Financial Group Inc. owned approximately 0.18% of Home Depot worth $377,025,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lucia Wealth Services LLC bought a new position in shares of Home Depot in the 1st quarter worth about $101,000. Ford Financial Group Inc. bought a new position in shares of Home Depot in the 4th quarter worth about $108,000. Earnest Partners LLC bought a new position in shares of Home Depot in the 4th quarter worth about $108,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Home Depot in the 4th quarter worth about $112,000. Finally, Keeler Thomas Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $150,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
A number of research analysts have recently issued reports on HD shares. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $223.00 price target on the stock in a research report on Tuesday, July 17th. Wells Fargo & Co started coverage on shares of Home Depot in a research report on Monday, April 23rd. They issued an “outperform” rating and a $205.00 price target on the stock. Credit Suisse Group set a $222.00 price target on shares of Home Depot and gave the stock a “buy” rating in a research report on Monday, May 14th. Bank of America restated a “buy” rating and issued a $215.00 price target on shares of Home Depot in a research report on Tuesday, May 15th. Finally, Loop Capital set a $200.00 price target on shares of Home Depot and gave the stock a “hold” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $203.35.
HD stock opened at $195.56 on Friday. The company has a debt-to-equity ratio of 14.37, a quick ratio of 0.37 and a current ratio of 1.17. Home Depot Inc has a fifty-two week low of $146.89 and a fifty-two week high of $207.60. The stock has a market capitalization of $226.44 billion, a P/E ratio of 26.21, a PEG ratio of 1.50 and a beta of 1.14.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.21. Home Depot had a net margin of 8.85% and a return on equity of 399.15%. The business had revenue of $30.46 billion for the quarter, compared to analysts’ expectations of $30.04 billion. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. research analysts forecast that Home Depot Inc will post 9.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.11%. Home Depot’s payout ratio is 55.23%.
In related news, Director Stephanie Linnartz bought 1,000 shares of the stock in a transaction on Friday, June 1st. The shares were purchased at an average price of $187.57 per share, with a total value of $187,570.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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