Traverso Chambers Private Wealth Management LLC Has $908,000 Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Jun 25th, 2023

Traverso Chambers Private Wealth Management LLC increased its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,078 shares of the home improvement retailer’s stock after purchasing an additional 168 shares during the quarter. Traverso Chambers Private Wealth Management LLC’s holdings in Home Depot were worth $908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Home Depot by 1.1% in the 3rd 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 during the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 585,226 shares during 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 worth $5,918,425,000 after purchasing an additional 1,698,402 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Home Depot by 5.1% during the 4th 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 last quarter. Finally, Norges Bank bought a new stake in Home Depot in the 4th quarter valued at $3,740,875,000. Institutional investors own 69.91% of the company’s stock.

Insider Buying and Selling at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of the 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 completion of the sale, the executive vice president now directly owns 13,958 shares in the company, valued at $4,090,950.22. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their target price on Home Depot from $337.00 to $349.00 in a report on Wednesday, June 14th. Citigroup dropped their price objective on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. Truist Financial decreased their target price on shares of Home Depot from $352.00 to $318.00 in a research report on Wednesday, May 17th. TheStreet cut Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Finally, 92 Resources reissued a “maintains” rating on shares of Home Depot in a research report on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $323.43.

Home Depot Stock Performance

NYSE:HD opened at $300.81 on Friday. The stock’s 50-day moving average is $294.65 and its 200-day moving average is $303.57. The Home Depot, Inc. has a 1-year low of $265.61 and a 1-year high of $347.25. 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 $302.43 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93.

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. The firm had revenue of $37.26 billion for the quarter, compared to analyst estimates 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 for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Announces Dividend

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

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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