New York Life Investment Management LLC Purchases 649 Shares of The Home Depot, Inc. (NYSE:HD)

New York Life Investment Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,646 shares of the home improvement retailer’s stock after purchasing an additional 649 shares during the quarter. New York Life Investment Management LLC’s holdings in Home Depot were worth $57,433,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HD. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Home Depot in the third quarter worth about $336,231,000. FMR LLC increased its stake in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after acquiring an additional 518,054 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Home Depot by 37,025.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock worth $187,019,000 after acquiring an additional 479,485 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after acquiring an additional 433,126 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.7 %

Shares of NYSE HD opened at $390.40 on Thursday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The stock has a 50 day moving average price of $401.17 and a 200 day moving average price of $398.42. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 earnings per share. Sell-side 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. Barclays boosted their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird reduced their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday. Mizuho boosted their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada cut their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.