Foundry Partners LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Apr 14th, 2023

Foundry Partners LLC grew its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 52.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,525 shares of the home improvement retailer’s stock after purchasing an additional 525 shares during the quarter. Foundry Partners LLC’s holdings in Home Depot were worth $482,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Home Depot from $360.00 to $340.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 22nd. Cowen reduced their target price on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. StockNews.com started coverage on shares of Home Depot in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Truist Financial reduced their price objective on Home Depot from $382.00 to $352.00 in a research report on Wednesday, February 22nd. Finally, Wedbush raised their target price on Home Depot from $280.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.89.

Home Depot Stock Performance

HD stock opened at $292.15 on Friday. The firm has a 50 day simple moving average of $298.78 and a 200 day simple moving average of $304.28. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $347.25. The stock has a market cap 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 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 released 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. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The firm had revenue of $35.83 billion during the quarter, compared to analysts’ expectations of $36 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were paid a $2.09 dividend. The ex-dividend date was Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 dividend on an annualized basis and a yield of 2.86%. Home Depot’s payout ratio is 50.12%.

Home Depot Profile

(Get Rating)

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.