Chelsea Counsel Co. Invests $205,000 in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 17th, 2023

Chelsea Counsel Co. bought a new position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 650 shares of the home improvement retailer’s stock, valued at approximately $205,000.

Several other hedge funds have also made changes to their positions in HD. Fairfield Bush & CO. acquired a new stake in Home Depot in the first quarter valued at about $27,000. Align Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at about $30,000. Glassy Mountain Advisors Inc. acquired a new stake in Home Depot in the fourth quarter valued at about $30,000. Studio Investment Management LLC acquired a new stake in Home Depot in the fourth quarter valued at about $32,000. Finally, Bellwether Advisors LLC increased its holdings in Home Depot by 74.0% in the third quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 68.31% of the company’s stock.

Home Depot Stock Down 0.5 %

Shares of HD opened at $300.38 on Friday. The firm has a market cap of $302.00 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.93. The company’s fifty day moving average is $293.75 and its two-hundred day moving average is $304.44. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $347.25. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. The company had revenue of $37.26 billion for the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. Home Depot’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $4.09 EPS. Analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.78%. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Wedbush dropped their target price on shares of Home Depot from $300.00 to $290.00 in a report on Wednesday, May 17th. Telsey Advisory Group dropped their target price on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 17th. Morgan Stanley dropped their target price on shares of Home Depot from $340.00 to $320.00 in a report on Wednesday, May 17th. Cowen dropped their target price on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Finally, Loop Capital increased their target price on shares of Home Depot from $280.00 to $300.00 in a report on Wednesday. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $323.43.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the transaction, the executive vice president now owns 13,958 shares in the company, valued at approximately $4,090,950.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Home Depot Company Profile

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The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.