The Manufacturers Life Insurance Company Trims Stake in The Home Depot, Inc. (NYSE:HD)

The Manufacturers Life Insurance Company decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 776,749 shares of the home improvement retailer's stock after selling 38,498 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Home Depot worth $302,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter valued at about $32,000. Quarry LP increased its position in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares during the period. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD stock traded up $6.59 during trading hours on Friday, reaching $364.89. The company had a trading volume of 1,384,518 shares, compared to its average volume of 3,619,090. 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 business has a fifty day moving average price of $361.56 and a 200-day moving average price of $390.89. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $362.71 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS 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 the consensus estimate 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 was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, Wedbush reissued an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

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.