Asset Management Corp IL ADV Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 5th, 2023

Asset Management Corp IL ADV reduced its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 35.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 670 shares of the home improvement retailer’s stock after selling 369 shares during the period. Asset Management Corp IL ADV’s holdings in Home Depot were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Home Depot by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock valued at $26,059,943,000 after buying an additional 1,011,858 shares during the last quarter. State Street Corp lifted its position in shares of Home Depot by 0.6% during the second quarter. State Street Corp now owns 45,908,300 shares of the home improvement retailer’s stock worth $12,591,269,000 after purchasing an additional 286,186 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after purchasing an additional 1,361,660 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Home Depot by 9.1% during the third quarter. Alliancebernstein L.P. now owns 9,722,967 shares of the home improvement retailer’s stock worth $2,682,956,000 after purchasing an additional 812,278 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 7,535,534 shares of the home improvement retailer’s stock worth $2,066,777,000 after purchasing an additional 86,345 shares during the last quarter. 68.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HD shares. Barclays reduced their price target on shares of Home Depot from $323.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 22nd. Loop Capital reduced their price target on shares of Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, February 22nd. Piper Sandler reduced their price target on shares of Home Depot from $320.00 to $300.00 in a research report on Wednesday, February 15th. Citigroup dropped their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Finally, Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday, December 6th. They set a “market perform” rating and a $337.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $330.61.

Home Depot Price Performance

NYSE HD opened at $294.96 on Wednesday. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $347.25. 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 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 company’s 50 day simple moving average is $302.24 and its 200 day simple moving average is $303.78.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. The business had revenue of $35.83 billion for the quarter, compared to analyst estimates of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business earned $3.21 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were issued a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a yield of 2.83%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s dividend payout ratio (DPR) is presently 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.

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

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