The Home Depot, Inc. (NYSE:HD) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in The Home Depot, Inc. (NYSE:HD) by 59.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,819 shares of the home improvement retailer’s stock after purchasing an additional 70,585 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Home Depot were worth $65,343,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in Home Depot in the 2nd quarter valued at $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at $27,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Home Depot during the 1st quarter valued at about $38,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $38,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on HD shares. Truist Financial dropped their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. DA Davidson upped their price objective on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Loop Capital lifted their target price on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $390.28.

Home Depot Stock Performance

Shares of HD opened at $391.96 on Tuesday. The firm has a market cap of $388.67 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.57 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business’s 50 day moving average is $365.62 and its two-hundred day moving average is $354.23. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.30%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

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.