First Citizens Bank & Trust Co. Acquires 4,401 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 5th, 2023

First Citizens Bank & Trust Co. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,343 shares of the home improvement retailer’s stock after acquiring an additional 4,401 shares during the quarter. Home Depot comprises 0.3% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 28th largest position. First Citizens Bank & Trust Co.’s holdings in Home Depot were worth $10,531,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BCK Partners Inc. purchased a new position in shares of Home Depot during the 1st quarter valued at about $2,933,000. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the 1st quarter valued at about $27,000. Ergoteles LLC purchased a new position in shares of Home Depot during the 1st quarter valued at about $1,554,000. Equitable Holdings Inc. raised its holdings in shares of Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after buying an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after buying an additional 24,640 shares in the last quarter. Institutional investors own 68.31% of the company’s stock.

Home Depot Trading Down 0.9 %

NYSE HD opened at $294.96 on Wednesday. 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 twelve month low of $264.51 and a twelve month high of $347.25. The firm has a market capitalization of $299.37 billion, a PE ratio of 17.68, a P/E/G ratio of 1.71 and a beta of 0.93. The stock’s 50 day moving average is $302.24 and its 200 day moving average is $303.78.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating 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 company had revenue of $35.83 billion for the quarter, compared to analyst estimates of $36 billion. During the same period in the previous year, the company posted $3.21 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Research analysts forecast 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 announced 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 annualized dividend and a yield of 2.83%. This is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s payout ratio is 50.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays decreased 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. Citigroup decreased their price objective on Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Evercore ISI decreased their price objective on Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. UBS Group decreased 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, Telsey Advisory Group decreased their price target on Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. Thirteen equities 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.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $330.61.

Home Depot 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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