California State Teachers Retirement System Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

California State Teachers Retirement System lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,557,485 shares of the home improvement retailer's stock after selling 47,981 shares during the quarter. Home Depot makes up 0.7% of California State Teachers Retirement System's holdings, making the stock its 19th largest holding. California State Teachers Retirement System owned about 0.16% of Home Depot worth $605,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $32,000. Quarry LP raised its position 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 worth $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC bought a new stake in Home Depot during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Home Depot stock traded up $6.59 during midday trading on Friday, reaching $364.89. The company's stock had a trading volume of 1,384,518 shares, compared to its average volume of 3,619,090. The stock's 50 day simple moving average is $361.56 and its 200 day simple moving average is $390.89. 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 $362.71 billion, a PE ratio of 24.79, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping 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%. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.52%. Home Depot's payout ratio is currently 61.66%.

Analysts Set New Price Targets

Several research firms have commented on HD. Gordon Haskett lowered shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada reduced their price target on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Wedbush restated an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $434.08.

About Home Depot

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.