Ingalls & Snyder LLC Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 16th, 2023

Ingalls & Snyder LLC lessened its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,505 shares of the home improvement retailer’s stock after selling 1,152 shares during the period. Home Depot accounts for approximately 1.2% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 19th largest holding. Ingalls & Snyder LLC’s holdings in Home Depot were worth $22,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teamwork Financial Advisors LLC increased its stake in Home Depot by 1.4% in the fourth quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock valued at $729,000 after purchasing an additional 31 shares in the last quarter. Insight Wealth Strategies LLC increased its stake 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 valued at $1,830,000 after purchasing an additional 32 shares in the last quarter. Monterey Private Wealth Inc. increased 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 purchasing an additional 32 shares in the last quarter. Virtue Capital Management LLC increased 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 purchasing an additional 33 shares in the last quarter. Finally, Coastal Bridge Advisors LLC increased 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 purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup decreased their target price on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Barclays decreased their target price on shares of Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. Morgan Stanley decreased their target price on shares of Home Depot from $360.00 to $340.00 and set an “overweight” rating for the company in a research report on Wednesday, February 22nd. Oppenheimer decreased their target price on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a research report on Friday, February 17th. Finally, Evercore ISI reduced their price objective on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $329.89.

Home Depot Stock Performance

Home Depot stock opened at $292.19 on Friday. The stock’s 50 day simple moving average is $297.04 and its two-hundred day simple moving average is $304.62. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The stock has a market cap of $295.89 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.68 and a beta of 0.93. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $347.25.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.04. The business 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 business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 EPS. As a group, analysts expect 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. Stockholders of record on Thursday, March 9th were issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.86%. This is a positive change 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 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.

See Also

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

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