Fulton Breakefield Broenniman LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 12th, 2023

Fulton Breakefield Broenniman LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,187 shares of the home improvement retailer’s stock after selling 189 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Home Depot were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of HD. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the 1st quarter valued at $27,000. Align Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $30,000. Glassy Mountain Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at $30,000. Studio Investment Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $32,000. Finally, EWG Elevate Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HD shares. Jefferies Financial Group boosted their price target on Home Depot from $337.00 to $349.00 in a report on Wednesday, June 14th. Credit Suisse Group lowered their price target on Home Depot from $320.00 to $310.00 in a report on Wednesday, May 17th. Telsey Advisory Group decreased their price target on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 17th. Sanford C. Bernstein decreased their price target on shares of Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. Finally, TheStreet cut shares of Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.43.

Insider Buying and Selling

In related news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the transaction, the executive vice president now owns 13,958 shares of the company’s stock, valued at approximately $4,090,950.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Home Depot Trading Up 1.1 %

Shares of NYSE HD opened at $313.66 on Wednesday. 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 business’s 50 day moving average price is $297.53 and its 200-day moving average price is $302.26. 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 cap of $315.35 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.97 and a beta of 0.94.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $37.26 billion for the quarter, compared to the consensus estimate of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.09 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 14.97 earnings per share 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 paid a $2.09 dividend. This represents a $8.36 annualized dividend and a yield of 2.67%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio is presently 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.