Cerro Pacific Wealth Advisors LLC Sells 92 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Mar 27th, 2023

Cerro Pacific Wealth Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,482 shares of the home improvement retailer’s stock after selling 92 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Home Depot were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. BCK Partners Inc. bought a new stake in Home Depot during the first quarter valued at approximately $2,933,000. Fairfield Bush & CO. purchased a new position in Home Depot during the first quarter valued at approximately $27,000. Ergoteles LLC purchased a new position in Home Depot during the first quarter valued at approximately $1,554,000. Equitable Holdings Inc. lifted its holdings in Home Depot by 7.4% during the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in 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 valued at $236,865,000 after purchasing an additional 24,640 shares in the last quarter. 68.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HD shares. UBS Group lowered their price target 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. Wedbush boosted their target price on shares of Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Piper Sandler reduced their price target on shares of Home Depot from $320.00 to $300.00 in a research report on Wednesday, February 15th. Truist Financial cut their price objective on shares of Home Depot from $382.00 to $352.00 in a research report on Wednesday, February 22nd. Finally, Credit Suisse Group cut their price target on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $331.45.

Home Depot Price Performance

Shares of NYSE HD opened at $283.02 on Monday. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $347.25. The business has a 50 day moving average price of $306.70 and a two-hundred day moving average price of $303.64. 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 firm 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.

Home Depot (NYSE:HD – Get Rating) last released its 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. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The company had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $36 billion. During the same quarter last year, the business posted $3.21 EPS. Home Depot’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were issued a $2.09 dividend. This is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date was Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.95%. Home Depot’s dividend payout ratio (DPR) is 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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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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