Riverwater Partners LLC Sells 345 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by on Jun 24th, 2023

Riverwater Partners LLC lessened its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 31.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 764 shares of the home improvement retailer’s stock after selling 345 shares during the period. Riverwater Partners LLC’s holdings in Home Depot were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HD. Fairfield Bush & CO. bought a new stake in shares of Home Depot during the 1st quarter worth about $27,000. Align Wealth Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth about $30,000. Glassy Mountain Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter worth about $30,000. Studio Investment Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth about $32,000. Finally, EWG Elevate Inc. bought a new stake in shares of Home Depot during the 4th quarter worth about $36,000. Institutional investors own 69.91% of the company’s stock.

Home Depot Trading Down 0.1 %

HD opened at $300.77 on Friday. The Home Depot, Inc. has a fifty-two week low of $265.61 and a fifty-two week high of $347.25. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28. The firm has a market capitalization of $302.39 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.93 and a beta of 0.93. The company’s 50 day moving average price is $294.65 and its two-hundred day moving average price is $303.67.

Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $38.35 billion. During the same period in the previous year, the firm posted $4.09 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced 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 payout ratio is 50.94%.

Insider Activity

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s 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 sale, 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 SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HD. Truist Financial dropped their price objective on shares of Home Depot from $352.00 to $318.00 in a research note on Wednesday, May 17th. Credit Suisse Group dropped their price objective on shares of Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. The Goldman Sachs Group dropped their price objective on shares of Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Telsey Advisory Group dropped their price objective on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, May 17th. Finally, Robert W. Baird lifted their price objective on shares of Home Depot from $310.00 to $330.00 in a research note on Tuesday, June 13th. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $323.43.

Home Depot Profile

(Get Rating)

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.

Featured Articles

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

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.