Fiduciary Alliance LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Jul 1st, 2023

Fiduciary Alliance LLC increased its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,118 shares of the home improvement retailer’s stock after acquiring an additional 764 shares during the quarter. Home Depot comprises approximately 2.2% of Fiduciary Alliance LLC’s portfolio, making the stock its 11th biggest position. Fiduciary Alliance LLC’s holdings in Home Depot were worth $8,888,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in Home Depot in the first quarter worth $27,000. Glassy Mountain Advisors Inc. purchased a new stake in Home Depot in the fourth quarter worth $30,000. Studio Investment Management LLC purchased a new stake in Home Depot in the fourth quarter worth $32,000. Align Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter worth $30,000. Finally, EWG Elevate Inc. purchased a new stake in Home Depot in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.

Home Depot Trading Up 0.9 %

Home Depot stock opened at $310.54 on Friday. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. The company has a market cap of $312.21 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.99 and a beta of 0.93. 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 business has a 50-day simple moving average of $295.79 and a two-hundred day simple moving average of $303.23.

Home Depot (NYSE:HD – Free Report) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.02. The company had revenue of $37.26 billion during the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.09 earnings per share. Analysts predict that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $2.09 per share. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.69%. Home Depot’s dividend payout ratio (DPR) is 50.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HD. Wedbush dropped their price target on Home Depot from $300.00 to $290.00 in a research note on Wednesday, May 17th. 92 Resources reissued a “maintains” rating on shares of Home Depot in a research report on Wednesday, May 17th. Morgan Stanley lowered their price objective on Home Depot from $340.00 to $320.00 in a research report on Wednesday, May 17th. Robert W. Baird raised their price objective on Home Depot from $310.00 to $330.00 in a research report on Tuesday, June 13th. Finally, Telsey Advisory Group lowered their price objective on Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, May 17th. Twelve investment 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, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $323.43.

Insider Activity at Home Depot

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 transaction of $440,221.18. Following the completion of the sale, the executive vice president now directly owns 13,958 shares in the company, valued at $4,090,950.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Home Depot Company Profile

(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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