Horan Securities Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 2nd, 2023

Horan Securities Inc. lowered its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,452 shares of the home improvement retailer’s stock after selling 195 shares during the quarter. Horan Securities Inc.’s holdings in Home Depot were worth $429,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the first quarter valued at $27,000. Align Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $30,000. Glassy Mountain Advisors Inc. purchased a new position in Home Depot during the 4th quarter valued at about $30,000. Studio Investment Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $32,000. Finally, EWG Elevate Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $36,000. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Home Depot from $337.00 to $349.00 in a research note on Wednesday, June 14th. Morgan Stanley reduced their price target on Home Depot from $340.00 to $320.00 in a research report on Wednesday, May 17th. The Goldman Sachs Group dropped their price objective on Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Wedbush reduced their target price on shares of Home Depot from $300.00 to $290.00 in a report on Wednesday, May 17th. Finally, Wells Fargo & Company raised their price target on shares of Home Depot from $325.00 to $345.00 in a report on Thursday, June 8th. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

Home Depot Price Performance

Shares of NYSE 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 business’s 50 day moving average price is $295.79 and its 200 day moving average price is $303.02. 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 firm has a market cap 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 released its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $38.35 billion. During the same period in the prior year, the firm earned $4.09 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a $2.09 dividend. The ex-dividend date of this dividend 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%.

Insider Buying and Selling

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total value 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 legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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