ICW Investment Advisors LLC Sells 57 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Apr 9th, 2023

ICW Investment Advisors LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,561 shares of the home improvement retailer’s stock after selling 57 shares during the quarter. Home Depot accounts for 1.8% of ICW Investment Advisors LLC’s portfolio, making the stock its 8th largest position. ICW Investment Advisors LLC’s holdings in Home Depot were worth $3,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Personal Financial Services increased its holdings in Home Depot by 81.1% in the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after buying an additional 43 shares during the last quarter. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter worth approximately $27,000. Align Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. acquired a new stake in shares of Home Depot during the 4th quarter valued at approximately $30,000. Finally, Bellwether Advisors LLC lifted its stake 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 purchasing an additional 54 shares during the last quarter. 68.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group lowered their target price on shares of Home Depot from $350.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Roth Mkm lowered their price objective on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Telsey Advisory Group cut 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. Morgan Stanley lowered their target price on Home Depot from $360.00 to $340.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. Finally, Citigroup cut their price target on Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $329.89.

Home Depot Stock Down 0.0 %

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

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share 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 company had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. During the same period in the prior year, the company earned $3.21 EPS. Home Depot’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were issued a $2.09 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.90%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio is currently 50.12%.

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.