Trust Co. of Oklahoma Has $3.42 Million Stake in The Home Depot, Inc. (NYSE:HD)

Posted by on Mar 27th, 2023

Trust Co. of Oklahoma lifted its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 63.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,811 shares of the home improvement retailer’s stock after acquiring an additional 4,187 shares during the quarter. Home Depot makes up approximately 1.4% of Trust Co. of Oklahoma’s portfolio, making the stock its 19th biggest position. Trust Co. of Oklahoma’s holdings in Home Depot were worth $3,415,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Teamwork Financial Advisors LLC boosted its stake in Home Depot by 1.4% during the 4th quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock valued at $729,000 after purchasing an additional 31 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in Home Depot by 0.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 5,794 shares of the home improvement retailer’s stock valued at $1,830,000 after purchasing an additional 32 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in Home Depot by 5.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 648 shares of the home improvement retailer’s stock valued at $178,000 after purchasing an additional 33 shares during the last quarter. Virtue Capital Management LLC boosted its stake in shares of Home Depot by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 2,476 shares of the home improvement retailer’s stock worth $683,000 after buying an additional 33 shares during the last quarter. Finally, Coastal Bridge Advisors LLC boosted its stake in shares of Home Depot by 0.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 5,744 shares of the home improvement retailer’s stock worth $1,585,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 68.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. Morgan Stanley cut their target price on Home Depot from $360.00 to $340.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 22nd. Cowen cut their target price on Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. Evercore ISI cut their target price on Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. Loop Capital cut their target price on Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a research note on Wednesday, February 22nd. Finally, Citigroup cut their target price on 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 equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.45.

Home Depot Trading Down 0.3 %

Shares of HD stock opened at $283.02 on Monday. The company’s fifty day simple moving average is $306.70 and its two-hundred day simple moving average is $303.64. 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 Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25. The stock has a market capitalization of $287.25 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.59 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last issued its earnings results 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. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The business had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $36 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were issued a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.95%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio is presently 50.12%.

Home Depot Company Profile

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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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