Bartlett & Co. LLC Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Jun 20th, 2023

Bartlett & Co. LLC decreased its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 3.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,000 shares of the home improvement retailer’s stock after selling 965 shares during the period. Bartlett & Co. LLC’s holdings in Home Depot were worth $8,263,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in Home Depot in the first quarter worth approximately $27,000. Glassy Mountain Advisors Inc. acquired a new position in shares of Home Depot during the fourth quarter worth $30,000. Studio Investment Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth $32,000. Align Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth $30,000. Finally, EWG Elevate Inc. acquired a new position in shares of Home Depot during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Loop Capital upped their target price on Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. 92 Resources reaffirmed a “maintains” rating on shares of Home Depot in a report on Wednesday, May 17th. StockNews.com started coverage on shares of Home Depot in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Credit Suisse Group lowered their target price on shares of Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. Finally, Citigroup lowered their target price on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

Insiders Place Their Bets

In other news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the completion of the transaction, the executive vice president now directly owns 13,958 shares of the company’s stock, valued at approximately $4,090,950.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

Home Depot Stock Performance

Shares of HD stock opened at $300.38 on Tuesday. The company’s fifty day simple moving average is $293.93 and its 200-day simple moving average is $304.03. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $347.25. The company has a current ratio of 1.27, a quick ratio of 0.28 and a debt-to-equity ratio of 113.02. The company has a market cap of $302.00 billion, a PE ratio of 18.30, a P/E/G ratio of 1.93 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The firm had revenue of $37.26 billion for the quarter, compared to the consensus estimate of $38.35 billion. During the same quarter in the previous year, the firm posted $4.09 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Dividend Announcement

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

Home Depot 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.

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

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