The Home Depot, Inc. (NYSE:HD) Stake Lessened by Mcdonald Partners LLC

Posted by Defense World Staff on Mar 27th, 2023

Mcdonald Partners LLC lowered its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,623 shares of the home improvement retailer’s stock after selling 77 shares during the period. Mcdonald Partners LLC’s holdings in Home Depot were worth $1,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Home Depot by 1.1% in the third quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock valued at $26,059,943,000 after purchasing an additional 1,011,858 shares in the last quarter. State Street Corp raised its holdings in shares of Home Depot by 0.6% during the second quarter. State Street Corp now owns 45,908,300 shares of the home improvement retailer’s stock worth $12,591,269,000 after acquiring an additional 286,186 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Home Depot by 9.1% during the third quarter. Alliancebernstein L.P. now owns 9,722,967 shares of the home improvement retailer’s stock worth $2,682,956,000 after acquiring an additional 812,278 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 7,535,534 shares of the home improvement retailer’s stock worth $2,066,777,000 after acquiring an additional 86,345 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Stock Down 0.3 %

HD stock opened at $283.02 on Monday. The company has a market cap of $287.25 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. 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 Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $347.25. The business’s 50-day simple moving average is $306.70 and its 200 day simple moving average is $303.64.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results 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. 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 return on equity of 4,929.40%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

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

Analysts Set New Price Targets

HD has been the subject of several recent research reports. Piper Sandler cut their price objective on Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Truist Financial cut their price objective on Home Depot from $382.00 to $352.00 in a report on Wednesday, February 22nd. Citigroup cut their price objective on Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. DA Davidson cut their target price on Home Depot from $334.00 to $306.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Finally, Wedbush raised their target price on Home Depot from $280.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target 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.