LGT Fund Management Co Ltd. Has $12.42 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

LGT Fund Management Co Ltd. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 29.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,931 shares of the home improvement retailer’s stock after acquiring an additional 7,273 shares during the period. Home Depot makes up 1.1% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 25th largest holding. LGT Fund Management Co Ltd.’s holdings in Home Depot were worth $12,421,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC bought a new stake in Home Depot in the fourth quarter worth about $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of NYSE:HD opened at $396.69 on Monday. The company has a 50 day moving average of $401.36 and a 200 day moving average of $399.37. The stock has a market cap of $394.06 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the company earned $2.82 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

Several analysts have commented on HD shares. Evercore ISI lifted their price objective 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. Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial lowered their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective 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, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.