The Home Depot, Inc. (NYSE:HD) is AAFMAA Wealth Management & Trust LLC’s 9th Largest Position

Posted by on Apr 11th, 2023

AAFMAA Wealth Management & Trust LLC lessened its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 59.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,635 shares of the home improvement retailer’s stock after selling 14,309 shares during the period. Home Depot makes up 2.7% of AAFMAA Wealth Management & Trust LLC’s portfolio, making the stock its 9th biggest position. AAFMAA Wealth Management & Trust LLC’s holdings in Home Depot were worth $3,043,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. raised its position in shares of Home Depot by 16.4% during the fourth quarter. Natixis Advisors L.P. now owns 563,677 shares of the home improvement retailer’s stock worth $178,043,000 after purchasing an additional 79,372 shares during the period. Beacon Capital Management LLC raised its holdings in shares of Home Depot by 4.5% during the fourth quarter. Beacon Capital Management LLC now owns 1,445 shares of the home improvement retailer’s stock worth $456,000 after acquiring an additional 62 shares in the last quarter. Wells Trecaso Financial Group LLC grew its position in Home Depot by 2.3% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 16,917 shares of the home improvement retailer’s stock worth $5,344,000 after acquiring an additional 382 shares in the last quarter. Telos Capital Management Inc. increased its position in Home Depot by 9.5% during the fourth quarter. Telos Capital Management Inc. now owns 28,758 shares of the home improvement retailer’s stock worth $9,083,000 after buying an additional 2,490 shares during the last quarter. Finally, Railway Pension Investments Ltd boosted its position in Home Depot by 1.8% during the fourth quarter. Railway Pension Investments Ltd now owns 498,389 shares of the home improvement retailer’s stock worth $157,421,000 after purchasing an additional 8,600 shares during the period. Institutional investors own 68.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Loop Capital dropped their price objective on 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 cut their price target on Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Robert W. Baird lowered their price target 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. Oppenheimer lowered their price objective on shares of 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, UBS Group cut their price target on Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $329.89.

Home Depot Stock Performance

Shares of NYSE HD opened at $291.17 on Tuesday. The stock has a market cap of $294.86 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.67 and a beta of 0.93. The company has a current ratio of 1.41, a quick ratio of 0.33 and a debt-to-equity ratio of 26.86. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $347.25. The stock’s 50-day moving average is $300.14 and its 200 day moving average is $304.21.

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

Home Depot Increases Dividend

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

Further Reading

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

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