Americana Partners LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Apr 14th, 2023

Americana Partners LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 25,803 shares of the home improvement retailer’s stock after selling 658 shares during the period. Home Depot makes up about 1.4% of Americana Partners LLC’s investment portfolio, making the stock its 15th largest position. Americana Partners LLC’s holdings in Home Depot were worth $8,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Teamwork Financial Advisors LLC lifted its position in shares of Home Depot by 1.4% in the 4th quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock worth $729,000 after buying an additional 31 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in Home Depot by 0.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 5,794 shares of the home improvement retailer’s stock worth $1,830,000 after acquiring an additional 32 shares during the last quarter. Monterey Private Wealth Inc. boosted its stake in Home Depot by 2.2% in the fourth quarter. Monterey Private Wealth Inc. now owns 1,495 shares of the home improvement retailer’s stock valued at $472,000 after acquiring an additional 32 shares during the period. Virtue Capital Management LLC boosted its stake in Home Depot by 1.4% in the third quarter. Virtue Capital Management LLC now owns 2,476 shares of the home improvement retailer’s stock valued at $683,000 after acquiring an additional 33 shares during the period. Finally, Coastal Bridge Advisors LLC boosted its stake in Home Depot by 0.6% in the third quarter. Coastal Bridge Advisors LLC now owns 5,744 shares of the home improvement retailer’s stock valued at $1,585,000 after acquiring an additional 34 shares during the period. 68.31% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

NYSE HD opened at $292.15 on Friday. The stock has a market capitalization of $295.85 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.69 and a beta of 0.93. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25. The business’s fifty day moving average is $298.78 and its two-hundred day moving average is $304.28. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41.

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 (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.04. The company had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $36 billion. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 earnings per share. On average, research analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were issued a $2.09 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.86%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio is currently 50.12%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. DA Davidson decreased their target price on Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a research note on Wednesday, February 22nd. Piper Sandler decreased their target price on Home Depot from $320.00 to $300.00 in a research note on Wednesday, February 15th. Robert W. Baird decreased their target price on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Tuesday, February 21st. Roth Mkm decreased their target price on Home Depot from $312.00 to $292.00 and set a “neutral” rating for the company in a research note on Wednesday, February 22nd. Finally, Barclays decreased their target price 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. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $329.89.

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.