Trifecta Capital Advisors LLC Takes $3.96 Million Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Mar 26th, 2023

Trifecta Capital Advisors LLC bought a new stake in The Home Depot, Inc. (NYSE:HD – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,545 shares of the home improvement retailer’s stock, valued at approximately $3,962,000. Home Depot comprises about 1.6% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 16th biggest position.

Other hedge funds have also modified their holdings of the company. First Personal Financial Services raised its position in shares of Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of Home Depot in the 1st quarter valued at approximately $27,000. Align Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $30,000. Finally, Bellwether Advisors LLC raised its holdings in Home Depot by 74.0% during the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 54 shares during the period. 68.31% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.3 %

HD stock opened at $283.02 on Friday. The company has a debt-to-equity ratio of 26.86, a current ratio of 1.41 and a quick ratio of 0.33. The company has a fifty day moving average price of $306.70 and a two-hundred day moving average price of $303.60. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $347.25. The stock has a market cap of $287.25 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.04. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm had revenue of $35.83 billion during the quarter, compared to analysts’ expectations of $36 billion. During the same period in the previous year, the business posted $3.21 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that The Home Depot, Inc. will post 15.85 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a yield of 2.95%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date was Wednesday, March 8th. Home Depot’s payout ratio is 50.12%.

Analyst Upgrades and Downgrades

Several brokerages have commented on HD. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, December 6th. They set a “market perform” rating and a $337.00 target price on the stock. StockNews.com began coverage on shares of Home Depot in a report on Thursday, March 16th. They set a “hold” rating on the stock. UBS Group dropped their target price on shares of Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Evercore ISI dropped their target price on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, Morgan Stanley dropped their target price on shares of Home Depot from $360.00 to $340.00 and set an “overweight” rating on the stock in a report 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’s stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $331.45.

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.

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

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