Valeo Financial Advisors LLC Acquires 1,461 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 29th, 2023

Valeo Financial Advisors LLC grew its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,310 shares of the home improvement retailer’s stock after purchasing an additional 1,461 shares during the period. Valeo Financial Advisors LLC’s holdings in Home Depot were worth $8,060,000 as of its most recent filing with the Securities and Exchange Commission.

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

Home Depot Stock Down 2.3 %

Shares of HD stock opened at $306.63 on Thursday. The Home Depot, Inc. has a 12-month low of $265.61 and a 12-month 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 firm has a fifty day moving average of $295.39 and a 200-day moving average of $303.32. The company has a market capitalization of $308.28 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.00 and a beta of 0.93.

Home Depot (NYSE:HD – Free Report) last released its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 1,936.63% and a net margin of 10.75%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $2.09 dividend. This represents a $8.36 annualized dividend and a yield of 2.73%. The ex-dividend date was Wednesday, May 31st. Home Depot’s payout ratio is 50.94%.

Insiders Place Their Bets

In other news, EVP Hector A. Padilla sold 1,502 shares of Home Depot 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 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. 92 Resources restated a “maintains” rating on shares of Home Depot in a research report on Wednesday, May 17th. Sanford C. Bernstein lowered their target price on Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. Loop Capital boosted their target price on Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. Morgan Stanley decreased their price target on Home Depot from $340.00 to $320.00 in a report on Wednesday, May 17th. Finally, Wells Fargo & Company upped their target price on shares of Home Depot from $325.00 to $345.00 in a research report on Thursday, June 8th. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $323.43.

About Home Depot

(Free Report)

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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