First Hawaiian Bank Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 2nd, 2023

First Hawaiian Bank lowered its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,067 shares of the home improvement retailer’s stock after selling 250 shares during the quarter. First Hawaiian Bank’s holdings in Home Depot were worth $4,447,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HD. BCK Partners Inc. purchased a new position in Home Depot during the first quarter worth about $2,933,000. Fairfield Bush & CO. purchased a new position in Home Depot during the first quarter worth about $27,000. Ergoteles LLC purchased a new position in Home Depot during the first quarter worth about $1,554,000. Equitable Holdings Inc. boosted its stake 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 worth $4,379,000 after buying an additional 1,007 shares during the period. Finally, First Trust Advisors LP boosted its stake 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 worth $236,865,000 after buying an additional 24,640 shares during the period. Hedge funds and other institutional investors own 69.91% of the company’s stock.

Insider Activity at Home Depot

In related news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction 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 transaction, the executive vice president now directly owns 13,958 shares in the company, valued at approximately $4,090,950.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $310.64 on Friday. The firm’s fifty day simple moving average is $295.79 and its 200-day simple moving average is $303.02. The stock has a market capitalization of $312.31 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.00 and a beta of 0.93. The Home Depot, Inc. has a 12 month low of $265.61 and a 12 month high of $347.25. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28.

Home Depot (NYSE:HD – Free Report) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. The business had revenue of $37.26 billion for 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%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on HD. Sanford C. Bernstein lowered their target price on shares of Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. Robert W. Baird raised their price objective on shares of Home Depot from $310.00 to $330.00 in a research note on Tuesday, June 13th. Citigroup lowered their price objective on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. The Goldman Sachs Group lowered their price objective on shares of Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Finally, StockNews.com started coverage on shares of Home Depot in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.43.

Home Depot 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.