Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in The Home Depot, Inc. (NYSE:HD) by 3.2% in the third quarter, Holdings Channel.com reports. The fund owned 388,837 shares of the home improvement retailer’s stock after purchasing an additional 12,074 shares during the period. Home Depot makes up approximately 1.7% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 7th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Home Depot were worth $157,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fairway Wealth LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the second quarter worth approximately $33,000. Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the second quarter valued at about $47,000. Finally, Quarry LP lifted its holdings in shares of Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on HD shares. Truist Financial boosted their target price on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday. DA Davidson increased their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Evercore ISI reduced their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $404.69.

Home Depot Price Performance

Shares of HD opened at $415.75 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The stock’s 50-day moving average price is $383.77 and its two-hundred day moving average price is $358.20. The stock has a market cap of $412.26 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.65 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

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.