The Home Depot, Inc. (NYSE:HD) Shares Acquired by Beacon Capital Management LLC

Posted by on Apr 11th, 2023

Beacon Capital Management LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,445 shares of the home improvement retailer’s stock after acquiring an additional 62 shares during the period. Beacon Capital Management LLC’s holdings in Home Depot were worth $456,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Home Depot during the 1st quarter worth approximately $27,000. Glassy Mountain Advisors Inc. bought a new position in shares of Home Depot during the fourth quarter worth about $30,000. First Personal Financial Services lifted its stake in Home Depot by 81.1% during the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Align Wealth Management LLC bought a new position in Home Depot in the fourth quarter worth about $30,000. Finally, EWG Elevate Inc. bought a new stake in Home Depot in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 68.31% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $291.17 on Tuesday. The company’s 50-day moving average is $300.14 and its 200 day moving average is $304.21. The company has a market capitalization of $294.86 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings data 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 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 for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $3.21 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were issued a $2.09 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.87%. This is a positive change from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s payout ratio is presently 50.12%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HD shares. Roth Mkm lowered their target price on Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Robert W. Baird reduced their target price on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a report on Tuesday, February 21st. 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 report on Wednesday, February 22nd. Telsey Advisory Group decreased their price target on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Finally, Truist Financial cut their target price on shares of Home Depot from $382.00 to $352.00 in a research note on Wednesday, February 22nd. Thirteen equities 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 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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