The Home Depot, Inc. (NYSE:HD) Shares Acquired by Brookstone Capital Management

Posted by on Jul 2nd, 2023

Brookstone Capital Management boosted its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,165 shares of the home improvement retailer’s stock after acquiring an additional 1,208 shares during the quarter. Brookstone Capital Management’s holdings in Home Depot were worth $8,320,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Donald L. Hagan LLC increased its position in Home Depot by 3.1% in the 1st quarter. Donald L. Hagan LLC now owns 3,951 shares of the home improvement retailer’s stock valued at $1,166,000 after acquiring an additional 118 shares during the period. Hanson & Doremus Investment Management boosted its stake in Home Depot by 7.9% during the 1st quarter. Hanson & Doremus Investment Management now owns 2,210 shares of the home improvement retailer’s stock valued at $652,000 after purchasing an additional 162 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Home Depot by 3.2% during the 1st quarter. Park Avenue Securities LLC now owns 46,437 shares of the home improvement retailer’s stock valued at $13,705,000 after purchasing an additional 1,439 shares in the last quarter. American Financial Advisors LLC boosted its stake in Home Depot by 1.4% during the 1st quarter. American Financial Advisors LLC now owns 6,508 shares of the home improvement retailer’s stock valued at $1,921,000 after purchasing an additional 92 shares in the last quarter. Finally, Sterling Investment Counsel LLC boosted its stake in Home Depot by 1.9% during the 1st quarter. Sterling Investment Counsel LLC now owns 3,300 shares of the home improvement retailer’s stock valued at $974,000 after purchasing an additional 62 shares in the last quarter. 69.91% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

HD opened at $310.64 on Friday. The Home Depot, Inc. has a 52 week low of $265.61 and a 52 week high of $347.25. The firm has a market capitalization of $312.31 billion, a PE ratio of 18.93, a P/E/G ratio of 2.00 and a beta of 0.93. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27. The company has a fifty day moving average price of $295.79 and a two-hundred day moving average price of $303.02.

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 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 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 company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Dividend Announcement

The company 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%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. Citigroup decreased their price target on Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. Guggenheim reduced their price objective on Home Depot from $335.00 to $320.00 in a research note on Wednesday, May 17th. Wells Fargo & Company raised their price objective on Home Depot from $325.00 to $345.00 in a research note on Thursday, June 8th. Loop Capital raised their price objective on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Finally, The Goldman Sachs Group reduced their price objective on Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Twelve investment 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, Home Depot has an average rating of “Moderate Buy” and an average target price of $323.43.

Insider Activity

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,090,950.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

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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