The Home Depot, Inc. (NYSE:HD) Shares Sold by MGO Private Wealth LLC

Posted by Defense World Staff on Jun 28th, 2023

MGO Private Wealth LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,429 shares of the home improvement retailer’s stock after selling 37 shares during the period. MGO Private Wealth LLC’s holdings in Home Depot were worth $422,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

HD has been the topic of several analyst reports. Loop Capital raised their target price on Home Depot from $280.00 to $300.00 in a report on Wednesday, June 14th. Morgan Stanley cut their target price on shares of Home Depot from $340.00 to $320.00 in a report on Wednesday, May 17th. Citigroup lowered their price target on shares of Home Depot from $332.00 to $327.00 in a report on Wednesday, May 10th. Jefferies Financial Group lifted their price objective on shares of Home Depot from $337.00 to $349.00 in a report on Wednesday, June 14th. Finally, Credit Suisse Group dropped their target price on Home Depot from $320.00 to $310.00 in a research report on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $323.43.

Insider Buying and Selling

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 stock was sold at an average price of $293.09, for a total value of $440,221.18. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Home Depot Stock Up 1.9 %

Shares of HD opened at $313.74 on Wednesday. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. 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 stock has a fifty day simple moving average of $295.19 and a two-hundred day simple moving average of $303.30. The company has a market capitalization of $315.43 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.02. The firm had revenue of $37.26 billion during the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. Home Depot’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $4.09 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio is presently 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.