James Investment Research Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Apr 13th, 2023

James Investment Research Inc. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,585 shares of the home improvement retailer’s stock after selling 902 shares during the period. Home Depot accounts for approximately 1.7% of James Investment Research Inc.’s investment portfolio, making the stock its 11th biggest position. James Investment Research Inc.’s holdings in Home Depot were worth $11,872,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in Home Depot in the 1st quarter valued at about $27,000. Glassy Mountain Advisors Inc. acquired a new position in Home Depot in the 4th quarter valued at about $30,000. First Personal Financial Services boosted its holdings in Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Align Wealth Management LLC acquired a new position in Home Depot in the 4th quarter valued at about $30,000. Finally, EWG Elevate Inc. acquired a new position in Home Depot in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Trading Down 1.1 %

NYSE HD opened at $290.44 on Thursday. 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 firm’s fifty day moving average price is $299.53 and its 200 day moving average price is $304.37. The company has a market capitalization of $294.12 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $347.25.

Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. The firm 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 revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $3.21 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were given a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date was Wednesday, March 8th. Home Depot’s dividend payout ratio (DPR) is 50.12%.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. Wedbush upped their price objective on shares of Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Cowen decreased their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Oppenheimer decreased their price objective on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating on the stock in a report on Friday, February 17th. Telsey Advisory Group decreased their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, Cowen decreased their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.89.

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.