KFG Wealth Management LLC Takes $599,000 Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Mar 27th, 2023

KFG Wealth Management LLC purchased a new position in The Home Depot, Inc. (NYSE:HD – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,896 shares of the home improvement retailer’s stock, valued at approximately $599,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Oak Harbor Wealth Partners LLC lifted its stake in Home Depot by 21.5% in the fourth quarter. Oak Harbor Wealth Partners LLC now owns 9,086 shares of the home improvement retailer’s stock worth $2,870,000 after acquiring an additional 1,609 shares during the last quarter. Prentice Wealth Management LLC lifted its stake in Home Depot by 11.4% in the fourth quarter. Prentice Wealth Management LLC now owns 1,451 shares of the home improvement retailer’s stock worth $458,000 after acquiring an additional 149 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in Home Depot by 66.8% in the fourth quarter. Wesbanco Bank Inc. now owns 82,425 shares of the home improvement retailer’s stock worth $26,035,000 after acquiring an additional 33,010 shares during the last quarter. Godsey & Gibb Inc. purchased a new position in Home Depot in the fourth quarter worth approximately $19,535,000. Finally, LifeSteps Financial Inc. lifted its stake in Home Depot by 10.1% in the fourth quarter. LifeSteps Financial Inc. now owns 4,970 shares of the home improvement retailer’s stock worth $1,570,000 after acquiring an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Home Depot from $320.00 to $300.00 in a research note on Wednesday, February 15th. Robert W. Baird cut their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Tuesday, February 21st. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, December 6th. They set a “market perform” rating and a $337.00 price objective on the stock. Cowen cut their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, Telsey Advisory Group cut their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $331.45.

Home Depot Stock Performance

Shares of HD opened at $283.02 on Monday. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The stock has a market capitalization of $287.25 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.59 and a beta of 0.93. The company’s fifty day moving average is $306.70 and its two-hundred day moving average is $303.64. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.04. The company had revenue of $35.83 billion for 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%. Home Depot’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced 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 is a positive change from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, March 8th. Home Depot’s payout ratio is presently 50.12%.

Home Depot Profile

(Get Rating)

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

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Get Rating).

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

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.