Bowman & Co S.C. Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 26th, 2023

Bowman & Co S.C. increased its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 11.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,372 shares of the home improvement retailer’s stock after purchasing an additional 660 shares during the quarter. Home Depot makes up approximately 1.4% of Bowman & Co S.C.’s investment portfolio, making the stock its 16th largest position. Bowman & Co S.C.’s holdings in Home Depot were worth $1,880,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HD. Financial Management Professionals Inc. grew its holdings in Home Depot by 19.0% in the 1st quarter. Financial Management Professionals Inc. now owns 1,780 shares of the home improvement retailer’s stock valued at $525,000 after buying an additional 284 shares in the last quarter. Secure Asset Management LLC grew its holdings in Home Depot by 16.8% in the 1st quarter. Secure Asset Management LLC now owns 2,542 shares of the home improvement retailer’s stock valued at $750,000 after buying an additional 366 shares in the last quarter. Addison Capital Co grew its holdings in Home Depot by 22.6% in the 1st quarter. Addison Capital Co now owns 803 shares of the home improvement retailer’s stock valued at $237,000 after buying an additional 148 shares in the last quarter. Accurate Wealth Management LLC grew its holdings in Home Depot by 35.5% in the 1st quarter. Accurate Wealth Management LLC now owns 6,376 shares of the home improvement retailer’s stock valued at $1,856,000 after buying an additional 1,669 shares in the last quarter. Finally, Drive Wealth Management LLC grew its holdings in Home Depot by 3.6% in the 1st quarter. Drive Wealth Management LLC now owns 4,987 shares of the home improvement retailer’s stock valued at $1,472,000 after buying an additional 171 shares in the last quarter. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HD shares. Wells Fargo & Company upped their price target on Home Depot from $325.00 to $345.00 in a research note on Thursday, June 8th. Truist Financial decreased their price target on Home Depot from $352.00 to $318.00 in a research note on Wednesday, May 17th. Guggenheim decreased their price target on Home Depot from $335.00 to $320.00 in a research note on Wednesday, May 17th. Morgan Stanley decreased their target price on Home Depot from $340.00 to $320.00 in a research note on Wednesday, May 17th. Finally, StockNews.com started coverage on Home Depot in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

Insider Activity

In other news, EVP Hector A. Padilla sold 1,502 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Home Depot Stock Down 0.1 %

Shares of NYSE:HD opened at $300.81 on Monday. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. The stock’s fifty day simple moving average is $294.65 and its 200-day simple moving average is $303.46. The company has a market capitalization of $302.43 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.96 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last released its earnings results 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 during the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.09 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Home Depot Company 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.