Kesler Norman & Wride LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 22nd, 2023

Kesler Norman & Wride LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,578 shares of the home improvement retailer’s stock after selling 244 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Home Depot were worth $1,942,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HD. Fairfield Bush & CO. purchased a new stake in shares of Home Depot in the first quarter valued at approximately $27,000. Align Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $30,000. Glassy Mountain Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter worth $30,000. Studio Investment Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth $32,000. Finally, Bellwether Advisors LLC increased its holdings in shares of Home Depot by 74.0% in the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 54 shares in the last quarter. 69.91% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.2 %

Shares of NYSE:HD opened at $300.77 on Thursday. The stock has a 50-day simple moving average of $294.29 and a 200-day simple moving average of $303.82. The stock has a market capitalization of $302.39 billion, a P/E ratio of 18.33, a PEG ratio of 1.93 and a beta of 0.93. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data 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 company had revenue of $37.26 billion during the quarter, compared to the consensus estimate of $38.35 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. Home Depot’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio is presently 50.94%.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. UBS Group lowered their target price on shares of Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Cowen dropped their price objective on Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. Truist Financial reduced their price objective on Home Depot from $352.00 to $318.00 in a report on Wednesday, May 17th. DA Davidson lowered their target price on Home Depot from $334.00 to $306.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Finally, TheStreet lowered shares of Home Depot from a “b” rating to a “c+” rating in a research report on Tuesday, May 16th. Thirteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $323.43.

Insider Transactions at Home Depot

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was 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 owns 13,958 shares in the company, valued at approximately $4,090,950.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

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.