Mutual Advisors LLC Buys 619 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Jun 23rd, 2023

Mutual Advisors LLC raised its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,143 shares of the home improvement retailer’s stock after acquiring an additional 619 shares during the quarter. Mutual Advisors LLC’s holdings in Home Depot were worth $8,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC increased its stake in shares of Home Depot by 105,205.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after buying an additional 10,984,516 shares during the period. Cottage Street Advisors LLC increased its stake in shares of Home Depot by 26,657.7% in the fourth quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock valued at $659,000 after buying an additional 3,567,063 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Home Depot by 37.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock valued at $2,582,715,000 after buying an additional 2,247,709 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Home Depot in the first quarter valued at approximately $563,524,000. Institutional investors own 69.91% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $301.19 on Friday. 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 stock has a market cap of $302.81 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The stock’s fifty day simple moving average is $294.48 and its two-hundred day simple moving average is $303.80. The Home Depot, Inc. has a 1-year low of $265.61 and a 1-year high of $347.25.

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

Home Depot Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio is 50.94%.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. Sanford C. Bernstein lowered their price objective on Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. Citigroup decreased their target price on shares of Home Depot from $332.00 to $327.00 in a research report on Wednesday, May 10th. The Goldman Sachs Group decreased their target price on shares of Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Telsey Advisory Group decreased their target price on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, May 17th. Finally, Guggenheim decreased their target price on shares of Home Depot from $335.00 to $320.00 in a research report on Wednesday, May 17th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.43.

Insiders Place Their Bets

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 transaction of $440,221.18. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

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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