First National Bank of South Miami Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Mar 22nd, 2023

First National Bank of South Miami increased its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,142 shares of the home improvement retailer’s stock after purchasing an additional 122 shares during the period. Home Depot accounts for about 1.7% of First National Bank of South Miami’s holdings, making the stock its 12th biggest holding. First National Bank of South Miami’s holdings in Home Depot were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BCK Partners Inc. purchased a new position in Home Depot in the 1st quarter valued at about $2,933,000. Fairfield Bush & CO. bought a new position in shares of Home Depot during the first quarter worth about $27,000. Ergoteles LLC bought a new position in shares of Home Depot during the first quarter worth about $1,554,000. Equitable Holdings Inc. lifted its position in shares of Home Depot by 7.4% during the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Home Depot by 3.2% during the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after purchasing an additional 24,640 shares during the last quarter. 68.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the topic of several research analyst reports. Roth Mkm reduced their price target on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Piper Sandler dropped their price objective on shares of Home Depot from $320.00 to $300.00 in a research note on Wednesday, February 15th. Wedbush increased their price objective on shares of Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. StockNews.com started coverage on shares of Home Depot in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Citigroup dropped their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $331.45.

Home Depot Price Performance

Shares of NYSE HD opened at $289.43 on Wednesday. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $347.25. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86. The company has a market capitalization of $293.76 billion, a PE ratio of 17.35, a P/E/G ratio of 1.62 and a beta of 0.93. The firm has a fifty day simple moving average of $309.51 and a 200 day simple moving average of $303.69.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. The firm had revenue of $35.83 billion during the quarter, compared to analysts’ expectations of $36 billion. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The business’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $3.21 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.85 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be issued a dividend of $2.09 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a yield of 2.89%. Home Depot’s payout ratio is 50.12%.

About Home Depot

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

Further Reading

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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