Founders Capital Management Sells 127 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 24th, 2023

Founders Capital Management reduced its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,267 shares of the home improvement retailer’s stock after selling 127 shares during the period. Home Depot accounts for 1.6% of Founders Capital Management’s portfolio, making the stock its 22nd largest position. Founders Capital Management’s holdings in Home Depot were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Home Depot by 1.1% during 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 purchasing an additional 1,011,858 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Home Depot by 3.2% during 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 purchasing an additional 585,226 shares in the last quarter. Morgan Stanley increased its stake in shares of Home Depot by 10.0% during 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 purchasing an additional 1,698,402 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 valued at $3,899,964,000 after purchasing an additional 607,480 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Home Depot during the fourth quarter valued at approximately $3,740,875,000. 69.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Home Depot

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 value of $440,221.18. Following the sale, the executive vice president now directly owns 13,958 shares in the company, valued at approximately $4,090,950.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Home Depot Stock Down 0.1 %

Shares of HD stock opened at $300.77 on Friday. The company 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 Home Depot, Inc. has a one year low of $265.61 and a one year high of $347.25. The company’s fifty day moving average price is $294.65 and its 200-day moving average price is $303.67. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, beating the consensus estimate 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 company’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $4.09 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Credit Suisse Group reduced their price target on shares of Home Depot from $320.00 to $310.00 in a research report on Wednesday, May 17th. Citigroup reduced their price target on shares of Home Depot from $332.00 to $327.00 in a research report on Wednesday, May 10th. Robert W. Baird raised their price target on shares of Home Depot from $310.00 to $330.00 in a research report on Tuesday, June 13th. StockNews.com assumed coverage on shares of Home Depot in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Loop Capital raised their price target on shares of Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.