Comerica Bank Trims Holdings in The Home Depot, Inc. (NYSE:HD)

Comerica Bank lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 605,156 shares of the home improvement retailer's stock after selling 5,023 shares during the period. Home Depot makes up approximately 0.9% of Comerica Bank's investment portfolio, making the stock its 13th largest holding. Comerica Bank owned 0.06% of Home Depot worth $235,400,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC lifted its holdings in Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after acquiring an additional 257,036 shares during the period. Norges Bank acquired a new position in Home Depot in the fourth quarter valued at approximately $5,032,910,000. Capital Research Global Investors lifted its holdings in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Truist Financial reduced their target price on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Trading Down 0.6 %

NYSE:HD traded down $2.30 during trading hours on Thursday, hitting $358.19. The company had a trading volume of 3,206,798 shares, compared to its average volume of 3,464,074. 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 company has a 50-day moving average of $361.56 and a 200 day moving average of $390.89. The company has a market cap of $356.05 billion, a P/E ratio of 24.33, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is 61.66%.

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.