Park Edge Advisors LLC Sells 209 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 2nd, 2023

Park Edge Advisors LLC lowered its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,251 shares of the home improvement retailer’s stock after selling 209 shares during the period. Home Depot comprises 0.4% of Park Edge Advisors LLC’s holdings, making the stock its 29th largest position. Park Edge Advisors LLC’s holdings in Home Depot were worth $959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Cottage Street Advisors LLC increased its holdings in Home Depot by 26,657.7% during the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after purchasing an additional 3,567,063 shares in the last quarter. Sigma Planning Corp raised its position in Home Depot by 1.6% in the 4th quarter. Sigma Planning Corp now owns 43,430 shares of the home improvement retailer’s stock valued at $13,718,000 after buying an additional 672 shares during the last quarter. Howard Financial Services LTD. lifted its stake in Home Depot by 7.2% in the 1st quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock valued at $215,000 after acquiring an additional 49 shares in the last quarter. Legacy Bridge LLC grew its stake in shares of Home Depot by 1.8% during the 4th quarter. Legacy Bridge LLC now owns 5,213 shares of the home improvement retailer’s stock worth $1,647,000 after acquiring an additional 90 shares in the last quarter. Finally, Centurion Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $411,000. 69.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was 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 approximately $4,090,950.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Home Depot Stock Up 0.9 %

HD opened at $310.64 on Friday. 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 stock has a fifty day moving average of $295.79 and a 200-day 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 market capitalization of $312.31 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.00 and a beta of 0.93.

Home Depot (NYSE:HD – Free Report) last issued 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. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The business had revenue of $37.26 billion during the quarter, compared to analysts’ expectations of $38.35 billion. During the same quarter in the previous year, the company earned $4.09 EPS. The business’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared 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. This represents a $8.36 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio is currently 50.94%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HD. 92 Resources reaffirmed a “maintains” rating on shares of Home Depot in a research report on Wednesday, May 17th. TheStreet cut Home Depot from a “b” rating to a “c+” rating in a report on Tuesday, May 16th. Truist Financial dropped their target price on Home Depot from $352.00 to $318.00 in a report on Wednesday, May 17th. Wells Fargo & Company raised their price target on Home Depot from $325.00 to $345.00 in a research note on Thursday, June 8th. Finally, StockNews.com began coverage on Home Depot in a report on Thursday, May 18th. They issued a “hold” rating for the company. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

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.