Skandinaviska Enskilda Banken AB publ Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,701 shares of the home improvement retailer’s stock after purchasing an additional 25,666 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Home Depot were worth $87,895,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HD. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the 4th quarter valued at $32,000. NewSquare Capital LLC raised its stake in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $364.82 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $362.39 billion, a P/E ratio of 24.78, a P/E/G ratio of 4.03 and a beta of 1.09. The stock has a 50-day moving average of $399.01 and a two-hundred day moving average of $399.78. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the business posted $2.82 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.52%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $436.50.

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.