The Home Depot, Inc. (NYSE:HD) Stock Position Lowered by New York State Teachers Retirement System

Posted by on Apr 12th, 2023

New York State Teachers Retirement System lessened its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,190,433 shares of the home improvement retailer’s stock after selling 12,887 shares during the quarter. Home Depot makes up about 0.9% of New York State Teachers Retirement System’s holdings, making the stock its 16th biggest holding. New York State Teachers Retirement System owned 0.12% of Home Depot worth $376,010,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Center for Financial Planning Inc. lifted its position in shares of Home Depot by 6.8% in the 4th quarter. Center for Financial Planning Inc. now owns 3,577 shares of the home improvement retailer’s stock valued at $1,130,000 after acquiring an additional 228 shares in the last quarter. Wright Investors Service Inc. increased its stake in Home Depot by 9.0% in the 4th quarter. Wright Investors Service Inc. now owns 27,078 shares of the home improvement retailer’s stock valued at $8,553,000 after buying an additional 2,242 shares during the period. JMG Financial Group Ltd. increased its stake in Home Depot by 3.8% in the 4th quarter. JMG Financial Group Ltd. now owns 981 shares of the home improvement retailer’s stock valued at $310,000 after buying an additional 36 shares during the period. Boston Financial Mangement LLC increased its stake in Home Depot by 1.0% in the 4th quarter. Boston Financial Mangement LLC now owns 58,593 shares of the home improvement retailer’s stock valued at $18,507,000 after buying an additional 571 shares during the period. Finally, Patron Partners LLC increased its stake in Home Depot by 2.0% in the 4th quarter. Patron Partners LLC now owns 4,002 shares of the home improvement retailer’s stock valued at $1,264,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on HD shares. Citigroup dropped their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. DA Davidson dropped their price objective on shares of Home Depot from $334.00 to $306.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 22nd. Roth Mkm dropped their price objective on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 22nd. Bank of America dropped their price objective on shares of Home Depot from $360.00 to $346.00 in a research note on Wednesday, February 22nd. Finally, Oppenheimer dropped their price target on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating on the stock in a research note on Friday, February 17th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $329.89.

Home Depot Price Performance

Shares of Home Depot stock opened at $293.77 on Wednesday. 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 fifty-two week low of $264.51 and a fifty-two week high of $347.25. The firm has a fifty day moving average price of $299.53 and a two-hundred day moving average price of $304.37. The company has a market cap of $297.49 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last issued 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 net margin of 10.87% and a return on equity of 4,929.40%. The firm had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. During the same period in the prior year, the firm earned $3.21 EPS. The business’s revenue was up .3% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.85 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders 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 dividend yield of 2.85%. 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 dividend payout ratio (DPR) is presently 50.12%.

Home Depot 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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