1,075 Shares in The Home Depot, Inc. (NYSE:HD) Bought by Pitti Group Wealth Management LLC

Posted by Defense World Staff on Apr 5th, 2023

Pitti Group Wealth Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,075 shares of the home improvement retailer’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Personal Financial Services increased its position in Home Depot by 81.1% during the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Home Depot during the first quarter worth $27,000. Align Wealth Management LLC purchased a new position in Home Depot during the fourth quarter worth $30,000. Glassy Mountain Advisors Inc. purchased a new position in Home Depot during the fourth quarter worth $30,000. Finally, Bellwether Advisors LLC increased its position in Home Depot by 74.0% during the third 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 owned by institutional investors and hedge funds.

Home Depot Trading Down 0.9 %

Shares of HD opened at $294.96 on Wednesday. The company has a market capitalization of $299.37 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.71 and a beta of 0.93. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $347.25. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The stock has a 50-day moving average price of $302.24 and a 200 day moving average price of $303.78.

Home Depot (NYSE:HD – Get Rating) last released its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $36 billion. During the same quarter last year, the business posted $3.21 EPS. Home Depot’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders 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%. The ex-dividend date was Wednesday, March 8th. This is an increase from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio (DPR) is currently 50.12%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Oppenheimer dropped their target price on Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a research note on Friday, February 17th. Credit Suisse Group dropped their price target on Home Depot from $335.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 22nd. Citigroup dropped their price target on Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Loop Capital dropped their price target on Home Depot from $310.00 to $300.00 and set a “hold” rating for the company in a research note on Wednesday, February 22nd. Finally, Morgan Stanley dropped their price target on Home Depot from $360.00 to $340.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.61.

About Home Depot

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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.