Canada Pension Plan Investment Board Has $452.92 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Canada Pension Plan Investment Board lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 59.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,164,342 shares of the home improvement retailer’s stock after purchasing an additional 431,840 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Home Depot were worth $452,917,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. POM Investment Strategies LLC raised its stake in Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares during the last quarter. Center for Financial Planning Inc. increased its position in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after acquiring an additional 24 shares during the last quarter. Marino Stram & Associates LLC increased its position in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after acquiring an additional 25 shares during the last quarter. Live Oak Private Wealth LLC lifted its holdings in Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after acquiring an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC boosted its position in Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after purchasing an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on HD. Truist Financial cut their target price on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Robert W. Baird reduced their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

Home Depot Stock Performance

Shares of Home Depot stock opened at $346.23 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock’s fifty day moving average price is $371.71 and its 200-day moving average price is $395.04. The firm has a market cap of $344.16 billion, a P/E ratio of 23.52, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for 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%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $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 fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.66%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Home Depot Company 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.