Arden Trust Co Has $2.06 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 28th, 2023

Arden Trust Co trimmed its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 16.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,989 shares of the home improvement retailer’s stock after selling 1,356 shares during the period. Arden Trust Co’s holdings in Home Depot were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HD. BCK Partners Inc. purchased a new stake in shares of Home Depot during the first quarter worth $2,933,000. Fairfield Bush & CO. bought a new position in Home Depot during the first quarter valued at about $27,000. Ergoteles LLC bought a new position in Home Depot during the first quarter valued at about $1,554,000. Equitable Holdings Inc. raised its holdings in Home Depot by 7.4% during the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after buying an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Home Depot by 3.2% during the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after buying an additional 24,640 shares in the last quarter. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HD. Morgan Stanley cut their target price on Home Depot from $340.00 to $320.00 in a report on Wednesday, May 17th. Telsey Advisory Group cut their target price on Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 17th. 92 Resources restated a “maintains” rating on shares of Home Depot in a report on Wednesday, May 17th. The Goldman Sachs Group lowered their price target on Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Finally, Robert W. Baird raised their price target on Home Depot from $310.00 to $330.00 in a research report on Tuesday, June 13th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $323.43.

Insider Buying and Selling

In related news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 13,958 shares in the company, valued at approximately $4,090,950.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Home Depot Stock Up 1.9 %

NYSE HD opened at $313.74 on Wednesday. The Home Depot, Inc. has a 1-year low of $265.61 and a 1-year high of $347.25. The stock’s 50 day moving average is $295.19 and its two-hundred day moving average is $303.30. 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 company has a market capitalization of $315.43 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.96 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $38.35 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. Home Depot’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a $2.09 dividend. This represents a $8.36 annualized dividend and a yield of 2.66%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

About Home Depot

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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.