Canada Pension Plan Investment Board Buys 322,800 Shares of The Home Depot, Inc. (NYSE:HD)

Canada Pension Plan Investment Board grew its stake in The Home Depot, Inc. (NYSE:HD) by 61.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 849,599 shares of the home improvement retailer’s stock after purchasing an additional 322,800 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.09% of Home Depot worth $292,466,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Home Depot by 1.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 213,799 shares of the home improvement retailer’s stock worth $74,092,000 after acquiring an additional 2,209 shares during the period. Empirical Finance LLC boosted its stake in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC grew its holdings in Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after buying an additional 965 shares in the last quarter. Leeward Financial Partners LLC increased its position in Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after buying an additional 711 shares during the period. Finally, Sanibel Captiva Trust Company Inc. bought a new position in Home Depot during the 4th quarter worth $88,708,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several research reports. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Jefferies Financial Group started coverage on shares of Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. DA Davidson upped their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada decreased their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $389.04.

Home Depot Price Performance

Shares of HD opened at $390.39 on Friday. The business has a 50-day simple moving average of $364.35 and a two-hundred day simple moving average of $354.38. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The stock has a market cap of $387.12 billion, a PE ratio of 26.18, a PEG ratio of 2.57 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) 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.