Proficio Capital Partners LLC Buys 1,283,995 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 3rd, 2023

Proficio Capital Partners LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 14,497.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,292,852 shares of the home improvement retailer’s stock after acquiring an additional 1,283,995 shares during the period. Proficio Capital Partners LLC owned about 0.13% of Home Depot worth $2,856,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Comprehensive Financial Consultants Institutional Inc. raised its stake in Home Depot by 8.8% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 9,519 shares of the home improvement retailer’s stock valued at $2,809,000 after buying an additional 772 shares during the period. Carderock Capital Management Inc. raised its stake in Home Depot by 0.8% in the first quarter. Carderock Capital Management Inc. now owns 18,341 shares of the home improvement retailer’s stock valued at $5,413,000 after buying an additional 137 shares during the period. MinichMacGregor Wealth Management LLC raised its stake in Home Depot by 12.3% in the first quarter. MinichMacGregor Wealth Management LLC now owns 811 shares of the home improvement retailer’s stock valued at $239,000 after buying an additional 89 shares during the period. Ballast Inc. grew its position in shares of Home Depot by 2.3% in the first quarter. Ballast Inc. now owns 4,008 shares of the home improvement retailer’s stock valued at $1,183,000 after purchasing an additional 92 shares during the last quarter. Finally, Herold Advisors Inc. grew its position in shares of Home Depot by 1.3% in the first quarter. Herold Advisors Inc. now owns 12,254 shares of the home improvement retailer’s stock valued at $3,616,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 69.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of several research reports. Telsey Advisory Group decreased their target price on Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 17th. 92 Resources restated a “maintains” rating on shares of Home Depot 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. Credit Suisse Group lowered their price objective on Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. Finally, Loop Capital raised their price objective on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.

Insider Buying and Selling at Home Depot

In related news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Home Depot Trading Up 0.9 %

NYSE:HD opened at $310.64 on Monday. The stock’s fifty day moving average price is $295.79 and its two-hundred day moving average price is $302.81. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25. The company has a market cap of $312.31 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.02 and a beta of 0.93. 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 issued 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 company 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 earnings per share. Home Depot’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Announces Dividend

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

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.