Capital Investment Services of America Inc. Invests $223,000 in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Apr 9th, 2023

Capital Investment Services of America Inc. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 705 shares of the home improvement retailer’s stock, valued at approximately $223,000.

Other hedge funds have also bought and sold shares of the company. BCK Partners Inc. acquired a new stake in Home Depot during the first quarter worth about $2,933,000. Fairfield Bush & CO. bought a new position in shares of Home Depot during the first quarter valued at approximately $27,000. Ergoteles LLC acquired a new stake in shares of Home Depot during the 1st quarter worth approximately $1,554,000. Equitable Holdings Inc. lifted its holdings in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after purchasing an additional 24,640 shares during the period. 68.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on HD. DA Davidson dropped their target price on Home Depot from $334.00 to $306.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Cowen cut their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Robert W. Baird decreased their target price on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. Evercore ISI cut their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, Oppenheimer decreased their price objective on Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a report on Friday, February 17th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $329.89.

Home Depot Stock Performance

Shares of NYSE HD opened at $288.61 on Friday. The stock’s fifty day simple moving average is $300.60 and its 200 day simple moving average is $303.83. The stock has a market capitalization of $292.27 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.67 and a beta of 0.93. 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 Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $347.25.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. The business had revenue of $35.83 billion for the quarter, compared to analyst estimates of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.21 earnings per share. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were given a dividend of $2.09 per share. The ex-dividend date was Wednesday, March 8th. This is a positive change from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 dividend on an annualized basis and a yield of 2.90%. Home Depot’s dividend payout ratio (DPR) is presently 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.