The Home Depot, Inc. (NYSE:HD) Stock Holdings Increased by Asset Advisors Investment Management LLC

Posted by Defense World Staff on Jul 12th, 2023

Asset Advisors Investment Management LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,777 shares of the home improvement retailer’s stock after buying an additional 89 shares during the period. Asset Advisors Investment Management LLC’s holdings in Home Depot were worth $4,656,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HD. Geode Capital Management LLC boosted its holdings in Home Depot by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 19,008,019 shares of the home improvement retailer’s stock worth $5,993,612,000 after purchasing an additional 585,226 shares during the period. Morgan Stanley lifted its position in shares of Home Depot by 10.0% in the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after buying an additional 1,698,402 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Home Depot by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,435,687 shares of the home improvement retailer’s stock valued at $3,899,964,000 after buying an additional 607,480 shares during the period. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter valued at about $3,740,875,000. Finally, Moneta Group Investment Advisors LLC raised its stake in Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after acquiring an additional 10,984,516 shares during the period. Institutional investors and hedge funds own 69.91% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of research reports. Guggenheim decreased their target price on Home Depot from $335.00 to $320.00 in a research note on Wednesday, May 17th. Truist Financial reduced their price objective on Home Depot from $352.00 to $318.00 in a research report on Wednesday, May 17th. Wells Fargo & Company increased their target price on Home Depot from $325.00 to $345.00 in a research report on Thursday, June 8th. Credit Suisse Group reduced their price target on shares of Home Depot from $320.00 to $310.00 in a report on Wednesday, May 17th. Finally, Robert W. Baird increased their price objective on shares of Home Depot from $310.00 to $330.00 in a report on Tuesday, June 13th. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $323.43.

Home Depot Stock Performance

HD opened at $313.66 on Wednesday. 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 $315.35 billion, a PE ratio of 19.11, a P/E/G ratio of 1.97 and a beta of 0.94. The business has a fifty day simple moving average of $297.53 and a 200-day simple moving average of $302.26. The Home Depot, Inc. has a fifty-two week low of $265.61 and a fifty-two week high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. The business had revenue of $37.26 billion during the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. Home Depot’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $4.09 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 14.97 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $2.09 per share. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.67%. Home Depot’s dividend payout ratio is currently 50.94%.

Insider Activity at Home Depot

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction 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 document filed with the SEC, which is available 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.