The Home Depot, Inc. (NYSE:HD) Shares Purchased by Elevated Capital Advisors LLC

Posted by Defense World Staff on Jul 2nd, 2023

Elevated Capital Advisors LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,177 shares of the home improvement retailer’s stock after buying an additional 62 shares during the period. Elevated Capital Advisors LLC’s holdings in Home Depot were worth $642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the first quarter valued at approximately $27,000. Align Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $30,000. Studio Investment Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, EWG Elevate Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $36,000. 69.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on HD shares. Loop Capital lifted their price objective on shares of Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Citigroup dropped their price target on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. TheStreet lowered shares of Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Guggenheim dropped their price target on shares of Home Depot from $335.00 to $320.00 in a research note on Wednesday, May 17th. Finally, Wells Fargo & Company lifted their price target on shares of Home Depot from $325.00 to $345.00 in a research note on Thursday, June 8th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.43.

Insiders Place Their Bets

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total transaction of $440,221.18. Following the sale, 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 SEC, which is available through this link. 0.19% of the stock is owned by company insiders.

Home Depot Stock Performance

HD stock opened at $310.64 on Friday. The company has a market capitalization of $312.31 billion, a P/E ratio of 18.93, a PEG ratio of 2.00 and a beta of 0.93. The company has a 50-day simple moving average of $295.79 and a 200 day simple moving average of $303.02. The Home Depot, Inc. has a fifty-two week low of $265.61 and a fifty-two week 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.

Home Depot (NYSE:HD – Free Report) last posted its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.02. The business had revenue of $37.26 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.09 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

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.