Ballast Advisors LLC Sells 279 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 9th, 2023

Ballast Advisors LLC trimmed its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,022 shares of the home improvement retailer’s stock after selling 279 shares during the quarter. Ballast Advisors LLC’s holdings in Home Depot were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC lifted its stake in Home Depot by 4.1% in the third quarter. Heartwood Wealth Advisors LLC now owns 1,582 shares of the home improvement retailer’s stock worth $437,000 after acquiring an additional 63 shares during the period. Cottage Street Advisors LLC lifted its position in shares of Home Depot by 26,657.7% in the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after purchasing an additional 3,567,063 shares during the period. Sigma Planning Corp boosted its stake in shares of Home Depot by 1.6% during the 4th quarter. Sigma Planning Corp now owns 43,430 shares of the home improvement retailer’s stock valued at $13,718,000 after purchasing an additional 672 shares in the last quarter. West Branch Capital LLC increased its position in shares of Home Depot by 0.4% during the third quarter. West Branch Capital LLC now owns 10,863 shares of the home improvement retailer’s stock valued at $2,998,000 after buying an additional 41 shares during the period. Finally, Bell & Brown Wealth Advisors LLC raised its stake in Home Depot by 3.3% in the third quarter. Bell & Brown Wealth Advisors LLC now owns 7,824 shares of the home improvement retailer’s stock worth $2,159,000 after buying an additional 253 shares in the last quarter. 68.31% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.0 %

Shares of HD stock opened at $288.61 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.33 and a debt-to-equity ratio of 26.86. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $347.25. The stock has a market capitalization of $292.27 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.67 and a beta of 0.93. The firm’s 50 day moving average is $300.60 and its 200 day moving average is $303.83.

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 firm had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $36 billion. During the same period in the prior year, the firm earned $3.21 EPS. The company’s revenue was up .3% compared to the same quarter last year. Research analysts expect that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared 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 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 2.90%. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s payout ratio is currently 50.12%.

Wall Street Analyst Weigh In

Several analysts have weighed in on HD shares. Cowen reduced their target price on Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Bank of America reduced their price target on Home Depot from $360.00 to $346.00 in a research note on Wednesday, February 22nd. DA Davidson lowered their price objective on Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Telsey Advisory Group dropped their target price on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, Robert W. Baird decreased their price target on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Tuesday, February 21st. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $329.89.

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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