AQR Capital Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

AQR Capital Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,458 shares of the home improvement retailer's stock after selling 990 shares during the quarter. AQR Capital Management LLC's holdings in Home Depot were worth $58,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $32,000. Quarry LP boosted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $41,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the topic of a number of research analyst reports. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Robert W. Baird dropped their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Price Performance

NYSE:HD traded up $6.11 during mid-day trading on Friday, hitting $364.41. 2,282,537 shares of the stock traded hands, compared to its average volume of 3,457,522. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $362.24 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business's 50-day moving average price is $360.97 and its 200 day moving average price is $390.34.

Home Depot (NYSE:HD - Get Free Report) last posted 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 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%. The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $2.82 earnings per share. On average, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.52%. Home Depot's payout ratio 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.