Northstar Asset Management LLC Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 10th, 2023

Northstar Asset Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 11,875 shares of the home improvement retailer’s stock after selling 515 shares during the period. Home Depot makes up 1.2% of Northstar Asset Management LLC’s holdings, making the stock its 21st biggest holding. Northstar Asset Management LLC’s holdings in Home Depot were worth $3,751,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. First Pacific Financial raised its position in Home Depot by 4.9% in the 4th quarter. First Pacific Financial now owns 3,024 shares of the home improvement retailer’s stock valued at $955,000 after purchasing an additional 142 shares during the last quarter. Day & Ennis LLC grew its position in Home Depot by 4.6% during the 4th quarter. Day & Ennis LLC now owns 17,947 shares of the home improvement retailer’s stock worth $5,669,000 after purchasing an additional 796 shares during the last quarter. Nordwand Advisors LLC acquired a new position in Home Depot in the fourth quarter valued at $4,849,000. Successful Portfolios LLC increased its stake in Home Depot by 0.9% in the fourth quarter. Successful Portfolios LLC now owns 7,994 shares of the home improvement retailer’s stock valued at $2,525,000 after purchasing an additional 75 shares during the period. Finally, Baugh & Associates LLC raised its holdings in shares of Home Depot by 4.3% in the fourth quarter. Baugh & Associates LLC now owns 25,292 shares of the home improvement retailer’s stock valued at $7,989,000 after buying an additional 1,045 shares during the last quarter. 68.31% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.0 %

HD opened at $288.61 on Monday. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The company has a market cap 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 Home Depot, Inc. has a one year low of $264.51 and a one year high of $347.25. The business’s fifty day moving average is $300.60 and its two-hundred day moving average is $304.06.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, topping the consensus estimate 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 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 earned $3.21 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HD shares. Loop Capital dropped their price target on Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, February 22nd. Citigroup dropped their target price on Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Bank of America decreased their price target on Home Depot from $360.00 to $346.00 in a report on Wednesday, February 22nd. StockNews.com assumed coverage on shares of Home Depot in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Robert W. Baird cut their price objective 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. 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, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price 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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