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

Posted by Defense World Staff on Apr 12th, 2023

Tributary Capital Management LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,825 shares of the home improvement retailer’s stock after selling 395 shares during the quarter. Tributary Capital Management LLC’s holdings in Home Depot were worth $576,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Heartwood Wealth Advisors LLC increased its stake in Home Depot by 4.1% in the third quarter. Heartwood Wealth Advisors LLC now owns 1,582 shares of the home improvement retailer’s stock valued at $437,000 after purchasing an additional 63 shares during the last quarter. Cottage Street Advisors LLC increased its stake in Home Depot by 26,657.7% during the fourth quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after acquiring an additional 3,567,063 shares during the last quarter. Sigma Planning Corp increased its stake in Home Depot by 1.6% during the fourth quarter. Sigma Planning Corp now owns 43,430 shares of the home improvement retailer’s stock worth $13,718,000 after acquiring an additional 672 shares during the last quarter. West Branch Capital LLC increased its stake in Home Depot by 0.4% during the third quarter. West Branch Capital LLC now owns 10,863 shares of the home improvement retailer’s stock worth $2,998,000 after acquiring an additional 41 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC increased its stake in Home Depot by 3.3% during the third quarter. Bell & Brown Wealth Advisors LLC now owns 7,824 shares of the home improvement retailer’s stock worth $2,159,000 after acquiring an additional 253 shares during the last quarter. 68.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup dropped their price target on Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Barclays dropped their price target on Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd. Truist Financial dropped their price target on Home Depot from $382.00 to $352.00 in a research note on Wednesday, February 22nd. Wedbush upped their price target on Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Finally, Piper Sandler decreased their target price on Home Depot from $320.00 to $300.00 in a research report on Wednesday, February 15th. Thirteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $329.89.

Home Depot Price Performance

Shares of HD opened at $293.77 on Wednesday. The firm has a market cap of $297.49 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.67 and a beta of 0.93. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $347.25. 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 stock has a 50 day moving average of $299.53 and a 200-day moving average of $304.37.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (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 the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $3.21 EPS. As a group, 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 is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.85%. Home Depot’s dividend payout ratio (DPR) 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.