The Home Depot, Inc. (NYSE:HD) is Strategic Advisors LLC’s 6th Largest Position

Posted by on Apr 2nd, 2023

Strategic Advisors LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,848 shares of the home improvement retailer’s stock after selling 773 shares during the period. Home Depot comprises about 3.2% of Strategic Advisors LLC’s holdings, making the stock its 6th largest holding. Strategic Advisors LLC’s holdings in Home Depot were worth $14,166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BCK Partners Inc. acquired a new stake in shares of Home Depot in the first quarter valued at $2,933,000. Fairfield Bush & CO. acquired a new stake in shares of Home Depot in the first quarter valued at $27,000. Ergoteles LLC acquired a new stake in shares of Home Depot in the first quarter valued at $1,554,000. Equitable Holdings Inc. raised its stake in shares of Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after acquiring an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Home Depot by 3.2% in 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 acquiring an additional 24,640 shares in the last quarter. 68.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HD shares. Morgan Stanley reduced their price objective 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. Citigroup cut their price target 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. Barclays cut their price target on Home Depot from $323.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. UBS Group cut their price target on Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Finally, Wedbush raised their price target on Home Depot from $280.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.61.

Home Depot Stock Performance

NYSE HD opened at $295.12 on Friday. 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 52-week low of $264.51 and a 52-week high of $347.25. The business’s 50-day moving average price is $303.05 and its 200 day moving average price is $303.27. The firm has a market cap of $299.53 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.59 and a beta of 0.93.

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 for the quarter, beating 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 analyst estimates of $36 billion. During the same quarter in the previous year, the company earned $3.21 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were issued a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Wednesday, March 8th. This is a positive change from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s payout ratio is currently 50.12%.

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.

See Also

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

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