Kohmann Bosshard Financial Services LLC Purchases New Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 10th, 2023

Kohmann Bosshard Financial Services LLC acquired 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 & Exchange Commission. The firm acquired 848 shares of the home improvement retailer’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. First Personal Financial Services raised its position in Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Fairfield Bush & CO. purchased a new position in Home Depot during the 1st quarter worth $27,000. Align Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at $30,000. Glassy Mountain Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at about $30,000. Finally, Bellwether Advisors LLC boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 68.31% of the company’s stock.

Home Depot Trading Down 0.0 %

Shares of Home Depot stock opened at $288.61 on Monday. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25. The company has a debt-to-equity ratio of 26.86, a current ratio of 1.41 and a quick ratio of 0.33. The business has a 50 day moving average price of $300.60 and a 200 day moving average price of $304.06. The company 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.

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, topping analysts’ consensus estimates of $3.26 by $0.04. The company had revenue of $35.83 billion during the quarter, compared to analysts’ expectations of $36 billion. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.21 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.85 EPS for the current fiscal 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 a boost from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Wednesday, March 8th. Home Depot’s dividend payout ratio (DPR) is currently 50.12%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HD shares. Evercore ISI dropped their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Loop Capital cut 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. Bank of America lowered their price objective on shares of Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. Citigroup cut their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Finally, Piper Sandler lowered their target price on shares of Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $329.89.

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.

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

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