CCG Wealth Management LLC Has $584,000 Stock Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Jun 24th, 2023

CCG Wealth Management LLC lowered its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 9.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,980 shares of the home improvement retailer’s stock after selling 199 shares during the period. Home Depot accounts for 0.4% of CCG Wealth Management LLC’s holdings, making the stock its 29th largest holding. CCG Wealth Management LLC’s holdings in Home Depot were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Home Depot by 1.1% in the third quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock valued at $26,059,943,000 after buying an additional 1,011,858 shares in the last quarter. Geode Capital Management LLC boosted its position in Home Depot by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 19,008,019 shares of the home improvement retailer’s stock valued at $5,993,612,000 after buying an additional 585,226 shares in the last quarter. Morgan Stanley boosted its position in Home Depot by 10.0% in the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after buying an additional 1,698,402 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Home Depot by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,435,687 shares of the home improvement retailer’s stock worth $3,899,964,000 after purchasing an additional 607,480 shares during the period. Finally, Norges Bank acquired a new position in shares of Home Depot during the fourth quarter worth $3,740,875,000. Institutional investors and hedge funds own 69.91% of the company’s stock.

Home Depot Price Performance

HD stock opened at $300.77 on Friday. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27. The business has a 50-day simple moving average of $294.65 and a two-hundred day simple moving average of $303.67. The company has a market capitalization of $302.39 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25.

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

Home Depot Dividend Announcement

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on HD shares. Telsey Advisory Group cut their price target on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 17th. Truist Financial cut their price target on shares of Home Depot from $352.00 to $318.00 in a report on Wednesday, May 17th. Jefferies Financial Group lifted their price target on shares of Home Depot from $337.00 to $349.00 in a report on Wednesday, June 14th. Loop Capital lifted their price target on shares of Home Depot from $280.00 to $300.00 in a report on Wednesday, June 14th. Finally, Credit Suisse Group cut their price target on shares of Home Depot from $320.00 to $310.00 in a report on Wednesday, May 17th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.43.

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.

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

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