Naples Global Advisors LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Mar 30th, 2023

Naples Global Advisors LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 33,380 shares of the home improvement retailer’s stock after selling 142 shares during the quarter. Home Depot makes up about 1.3% of Naples Global Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Naples Global Advisors LLC’s holdings in Home Depot were worth $10,544,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HD. Teamwork Financial Advisors LLC increased its holdings in shares of Home Depot by 1.4% in 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 period. Insight Wealth Strategies LLC increased its holdings in shares of Home Depot by 0.6% in 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 period. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Home Depot by 5.4% in 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 period. Virtue Capital Management LLC increased its holdings 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 valued at $683,000 after purchasing an additional 33 shares during the period. Finally, Coastal Bridge Advisors LLC increased its holdings 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 valued at $1,585,000 after purchasing an additional 34 shares during the period. 68.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Roth Mkm dropped their target price on Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Cowen dropped their target price on Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Barclays dropped their price objective on Home Depot from $323.00 to $310.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 22nd. Wedbush increased their price objective on Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Finally, Piper Sandler dropped their price objective on Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Thirteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $330.61.

Home Depot Stock Performance

Home Depot stock opened at $283.36 on Thursday. 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 stock has a fifty day moving average price of $303.96 and a two-hundred day moving average price of $303.23. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $347.25. The firm has a market capitalization of $287.60 billion, a P/E ratio of 16.99, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $35.83 billion during the quarter, compared to analyst estimates of $36 billion. During the same period in the prior year, the company posted $3.21 earnings per share. 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 EPS for the current fiscal 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 paid 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 yield of 2.95%. The ex-dividend date was Wednesday, March 8th. Home Depot’s dividend payout ratio is currently 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.