The Home Depot, Inc. (NYSE:HD) Position Lifted by Investmark Advisory Group LLC

Posted by on Apr 5th, 2023

Investmark Advisory Group LLC grew its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,726 shares of the home improvement retailer’s stock after acquiring an additional 804 shares during the quarter. Home Depot comprises about 3.0% of Investmark Advisory Group LLC’s portfolio, making the stock its 7th biggest position. Investmark Advisory Group LLC’s holdings in Home Depot were worth $4,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BCK Partners Inc. purchased a new position in Home Depot during the 1st quarter worth $2,933,000. Fairfield Bush & CO. purchased a new position in Home Depot during the 1st quarter worth $27,000. Ergoteles LLC purchased a new position in Home Depot during the 1st quarter worth $1,554,000. Equitable Holdings Inc. grew its stake in Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after buying an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in 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 worth $236,865,000 after buying an additional 24,640 shares during the last quarter. 68.31% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of Home Depot stock 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 business has a 50-day moving average price of $302.24 and a 200 day moving average price of $303.78. The firm has a market cap of $299.37 billion, a PE ratio of 17.68, a P/E/G ratio of 1.71 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last announced 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 firm had revenue of $35.83 billion during the quarter, compared to analyst estimates of $36 billion. During the same quarter in the previous year, the business earned $3.21 EPS. Home Depot’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company 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 2.83%. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s payout ratio is 50.12%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Loop Capital dropped their target price on Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a research note on Wednesday, February 22nd. Evercore ISI lowered their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Telsey Advisory Group lowered their price target on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Citigroup lowered their price target on Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Finally, Robert W. Baird lowered their price target on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. Thirteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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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