Ziegler Capital Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 5th, 2023

Ziegler Capital Management LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,949 shares of the home improvement retailer’s stock after selling 1,739 shares during the quarter. Home Depot comprises about 1.3% of Ziegler Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Ziegler Capital Management LLC’s holdings in Home Depot were worth $31,570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fairfield Bush & CO. bought a new position in Home Depot in the 1st quarter worth $27,000. Glassy Mountain Advisors Inc. bought a new position in Home Depot in the 4th quarter worth $30,000. First Personal Financial Services raised its holdings in Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 43 shares during the period. Align Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth $30,000. Finally, EWG Elevate Inc. bought a new position in Home Depot in the 4th quarter worth $36,000. Institutional investors own 68.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HD. Roth Mkm dropped their target price on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. StockNews.com began coverage on shares of Home Depot in a report on Thursday, March 16th. They issued a “hold” rating on the stock. UBS Group dropped their price objective on shares of Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Morgan Stanley dropped their price objective on shares of Home Depot from $360.00 to $340.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Finally, DA Davidson dropped their price objective on shares of Home Depot from $334.00 to $306.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $330.61.

Home Depot Price Performance

NYSE:HD opened at $294.96 on Wednesday. The firm has a market cap of $299.37 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.93. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 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’s 50-day moving average price is $302.24 and its two-hundred day moving average price 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 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm 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 business earned $3.21 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.85 EPS 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 paid a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This is an increase from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.83%. Home Depot’s payout ratio is currently 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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