Meiji Yasuda Asset Management Co Ltd. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,428 shares of the home improvement retailer’s stock after purchasing an additional 387 shares during the period. Home Depot comprises 1.0% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 15th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Home Depot were worth $25,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada cut 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. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial dropped their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of HD opened at $363.97 on Tuesday. The firm has a market capitalization of $361.55 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 4.03 and a beta of 1.09. The firm’s fifty day simple moving average is $393.46 and its 200-day simple moving average is $399.16. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for 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%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. 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 2.53%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

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.