Weatherly Asset Management L. P. Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Jun 26th, 2023

Weatherly Asset Management L. P. lessened its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,110 shares of the home improvement retailer’s stock after selling 53 shares during the period. Home Depot makes up 1.7% of Weatherly Asset Management L. P.’s portfolio, making the stock its 15th biggest position. Weatherly Asset Management L. P.’s holdings in Home Depot were worth $12,723,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Align Wealth Management LLC acquired a new stake in Home Depot in the 4th quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. acquired a new stake in Home Depot in the fourth quarter worth about $30,000. Studio Investment Management LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, EWG Elevate Inc. bought a new stake in Home Depot in the fourth quarter worth about $36,000. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HD shares. Loop Capital raised their price objective on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. TheStreet lowered shares of Home Depot from a “b” rating to a “c+” rating in a report on Tuesday, May 16th. Morgan Stanley lowered their price objective on shares of Home Depot from $340.00 to $320.00 in a research report on Wednesday, May 17th. Guggenheim lowered their price target on Home Depot from $335.00 to $320.00 in a report on Wednesday, May 17th. Finally, Truist Financial decreased their price objective on Home Depot from $352.00 to $318.00 in a research report on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

Home Depot Stock Down 0.1 %

Home Depot stock opened at $300.81 on Monday. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. The firm has a market cap of $302.43 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.96 and a beta of 0.93. The firm has a 50 day moving average price of $294.65 and a two-hundred day moving average price of $303.46. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27.

Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping the consensus estimate 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 company had revenue of $37.26 billion during the quarter, compared to the consensus estimate of $38.35 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts predict that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Announces Dividend

The company 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. This represents a $8.36 annualized dividend and a yield of 2.78%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

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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