New World Advisors LLC Has $597,000 Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 16th, 2023

New World Advisors LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 17.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,891 shares of the home improvement retailer’s stock after selling 390 shares during the quarter. Home Depot comprises 0.2% of New World Advisors LLC’s portfolio, making the stock its 19th biggest holding. New World Advisors LLC’s holdings in Home Depot were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Kestra Advisory Services LLC boosted its stake in Home Depot by 7.2% in the 4th quarter. Kestra Advisory Services LLC now owns 137,228 shares of the home improvement retailer’s stock valued at $43,345,000 after purchasing an additional 9,259 shares during the period. Source Financial Advisors LLC boosted its stake in Home Depot by 7.3% in the 4th quarter. Source Financial Advisors LLC now owns 1,324 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 90 shares during the period. Capital Investment Counsel Inc boosted its stake in Home Depot by 15.8% in the 4th quarter. Capital Investment Counsel Inc now owns 6,020 shares of the home improvement retailer’s stock valued at $1,901,000 after purchasing an additional 820 shares during the period. Venturi Wealth Management LLC boosted its stake in Home Depot by 1.4% in the 4th quarter. Venturi Wealth Management LLC now owns 34,248 shares of the home improvement retailer’s stock valued at $10,818,000 after purchasing an additional 457 shares during the period. Finally, Del Sette Capital Management LLC bought a new stake in Home Depot in the 4th quarter valued at $201,000. 68.31% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $292.19 on Friday. 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 company has a market capitalization of $295.89 billion, a PE ratio of 17.52, a P/E/G ratio of 1.68 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. The stock has a 50-day moving average price of $297.04 and a two-hundred day moving average price of $304.62.

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 the consensus estimate of $3.26 by $0.04. The firm had revenue of $35.83 billion during 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 quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $3.21 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.85 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.86%. 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 Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI reduced their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. StockNews.com started coverage on Home Depot in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Bank of America cut their target price on Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. UBS Group cut their target price on Home Depot from $350.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Finally, Robert W. Baird cut their target price on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. Thirteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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