Raab & Moskowitz Asset Management LLC Has $2.91 Million Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 11th, 2023

Raab & Moskowitz Asset Management LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,222 shares of the home improvement retailer’s stock after selling 67 shares during the quarter. Home Depot accounts for approximately 1.1% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its 25th biggest holding. Raab & Moskowitz Asset Management LLC’s holdings in Home Depot were worth $2,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cottage Street Advisors LLC raised its holdings in shares of Home Depot by 26,657.7% in the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after buying an additional 3,567,063 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Home Depot in the first quarter valued at $563,524,000. Charles Schwab Investment Management Inc. raised its stake in Home Depot by 14.5% during 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. Altshuler Shaham Ltd bought a new position in shares of Home Depot during the third quarter valued at $341,915,000. Finally, Vanguard Group Inc. boosted 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 valued at $26,059,943,000 after purchasing an additional 1,011,858 shares in the last quarter. 68.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HD. Barclays dropped their target price on shares of Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. Citigroup dropped their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Roth Mkm reduced 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. Oppenheimer cut their price objective on Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a research report on Friday, February 17th. Finally, Credit Suisse Group decreased their price target on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $329.89.

Home Depot Price Performance

NYSE:HD opened at $291.17 on Tuesday. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $347.25. The company has a market cap of $294.86 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.67 and a beta of 0.93. 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 stock’s 50-day simple moving average is $300.14 and its 200 day simple moving average is $304.21.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The firm had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. During the same period last year, the company earned $3.21 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

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

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.

Further Reading

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

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