CENTRAL TRUST Co Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 9th, 2023

CENTRAL TRUST Co decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,153 shares of the home improvement retailer’s stock after selling 1,398 shares during the period. Home Depot makes up about 1.3% of CENTRAL TRUST Co’s holdings, making the stock its 15th biggest position. CENTRAL TRUST Co’s holdings in Home Depot were worth $41,742,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HD. First Personal Financial Services increased its position in shares of 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 in the last quarter. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the first quarter valued at approximately $27,000. Align Wealth Management LLC acquired a new position in Home Depot in the 4th quarter valued at $30,000. Glassy Mountain Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at $30,000. Finally, Bellwether Advisors LLC increased its stake in shares of Home Depot by 74.0% during the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $288.61 on Friday. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $347.25. The firm 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 firm has a 50-day moving average price of $300.60 and a 200 day moving average price of $303.83. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.04. The business had revenue of $35.83 billion during the quarter, compared to analysts’ expectations 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 was up .3% on a year-over-year basis. During the same period last year, the firm posted $3.21 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HD. Credit Suisse Group cut their target price on Home Depot from $335.00 to $320.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Truist Financial dropped their price objective on shares of Home Depot from $382.00 to $352.00 in a research note on Wednesday, February 22nd. Cowen cut their price target on Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. Roth Mkm reduced their price objective on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 22nd. Finally, Evercore ISI reduced their target price on Home Depot from $370.00 to $340.00 and set an “outperform” 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 given a buy rating to the company. 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.

Further Reading

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

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