Occidental Asset Management LLC Has $3.29 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 3rd, 2023

Occidental Asset Management LLC increased its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,428 shares of the home improvement retailer’s stock after purchasing an additional 609 shares during the period. Home Depot comprises about 0.9% of Occidental Asset Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Occidental Asset Management LLC’s holdings in Home Depot were worth $3,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Personal Financial Services increased its holdings in shares of Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of Home Depot during the first quarter worth approximately $27,000. Align Wealth Management LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. acquired a new position in Home Depot in the 4th quarter valued at approximately $30,000. Finally, Bellwether Advisors LLC lifted its position in Home Depot by 74.0% in the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 54 shares in the last quarter. 68.31% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 3.4 %

HD stock opened at $295.12 on Monday. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $347.25. 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 company has a market cap of $299.53 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. The business’s 50-day simple moving average is $303.05 and its 200 day simple moving average is $303.46.

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, topping the consensus estimate of $3.26 by $0.04. The company had revenue of $35.83 billion for the quarter, compared to analyst estimates of $36 billion. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. Home Depot’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 EPS. On average, research analysts anticipate 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. Stockholders of record on Thursday, March 9th were paid a $2.09 dividend. This is a boost from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date was Wednesday, March 8th. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.83%. Home Depot’s dividend payout ratio is currently 50.12%.

Analyst Ratings Changes

Several research firms have recently commented on HD. Cowen lowered their price target 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. Wedbush upped their target price on Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Telsey Advisory Group reduced their price target on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Loop Capital dropped their price objective on Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, February 22nd. Finally, Roth Mkm decreased their target price on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating for the company in a research report 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $330.61.

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

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.