Teacher Retirement System of Texas Has $145.94 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Teacher Retirement System of Texas lifted its position in The Home Depot, Inc. (NYSE:HD) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,164 shares of the home improvement retailer’s stock after buying an additional 68,491 shares during the period. Home Depot comprises 0.5% of Teacher Retirement System of Texas’ holdings, making the stock its 25th largest position. Teacher Retirement System of Texas’ holdings in Home Depot were worth $145,935,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HD. First National Bank of Hutchinson raised its holdings in Home Depot by 13.7% during the 4th quarter. First National Bank of Hutchinson now owns 3,063 shares of the home improvement retailer’s stock worth $1,191,000 after buying an additional 369 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Home Depot by 1.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 630,519 shares of the home improvement retailer’s stock worth $245,266,000 after acquiring an additional 8,330 shares in the last quarter. Next Capital Management LLC raised its holdings in shares of Home Depot by 2.0% during the fourth quarter. Next Capital Management LLC now owns 2,233 shares of the home improvement retailer’s stock worth $869,000 after acquiring an additional 44 shares during the period. First Financial Bankshares Inc lifted its position in Home Depot by 0.5% in the 4th quarter. First Financial Bankshares Inc now owns 124,480 shares of the home improvement retailer’s stock valued at $48,421,000 after acquiring an additional 647 shares in the last quarter. Finally, Generali Investments Management Co LLC acquired a new position in Home Depot in the 4th quarter worth $4,498,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on HD. Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Up 1.1 %

Shares of HD opened at $353.35 on Thursday. The firm has a 50 day simple moving average of $395.36 and a two-hundred day simple moving average of $399.08. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a market cap of $351.01 billion, a P/E ratio of 24.00, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company 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 firm earned $2.82 EPS. Home Depot’s revenue was up 14.1% on a year-over-year basis. Research 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. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. 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 2.60%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.