Joel Isaacson & Co. LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 10th, 2023

Joel Isaacson & Co. LLC increased its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,784 shares of the home improvement retailer’s stock after buying an additional 1,106 shares during the period. Joel Isaacson & Co. LLC’s holdings in Home Depot were worth $4,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Home Depot by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock worth $26,059,943,000 after buying an additional 1,011,858 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares in the last quarter. Alliancebernstein L.P. raised its position in Home Depot by 9.1% during the third quarter. Alliancebernstein L.P. now owns 9,722,967 shares of the home improvement retailer’s stock valued at $2,682,956,000 after purchasing an additional 812,278 shares during the period. Legal & General Group Plc raised its position in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 7,535,534 shares of the home improvement retailer’s stock valued at $2,066,777,000 after purchasing an additional 86,345 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 2.3% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,929,065 shares of the home improvement retailer’s stock worth $1,636,544,000 after purchasing an additional 131,560 shares during the period. 68.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial decreased their price target on Home Depot from $382.00 to $352.00 in a report on Wednesday, February 22nd. Loop Capital reduced their target price on shares of Home Depot from $310.00 to $300.00 and set a “hold” rating on the stock in a research note on Wednesday, February 22nd. Cowen dropped their price target on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. Credit Suisse Group cut their price target on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Finally, Evercore ISI decreased their price objective on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $329.89.

Home Depot Price Performance

NYSE:HD opened at $288.61 on Monday. The company has a 50 day moving average price of $300.60 and a 200-day moving average price of $304.06. 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 Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $347.25. The firm has a market cap of $292.27 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 4,929.40% and a net margin of 10.87%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.85 EPS for the current year.

Home Depot Increases Dividend

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

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

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