Sumitomo Life Insurance Co. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by on Jul 16th, 2023

Sumitomo Life Insurance Co. decreased its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,034 shares of the home improvement retailer’s stock after selling 134 shares during the period. Home Depot comprises approximately 0.5% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 20th biggest holding. Sumitomo Life Insurance Co.’s holdings in Home Depot were worth $6,208,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HD. Norges Bank bought a new position in Home Depot in the fourth quarter worth approximately $3,740,875,000. Moneta Group Investment Advisors LLC raised its stake in Home Depot by 105,205.6% in 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 buying an additional 10,984,516 shares in the last quarter. Cottage Street Advisors LLC raised its stake in Home Depot by 26,657.7% in the fourth quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after buying an additional 3,567,063 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Home Depot by 37.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock worth $2,582,715,000 after buying an additional 2,247,709 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Home Depot in the first quarter worth approximately $563,524,000. Institutional investors own 69.91% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $316.50 on Friday. The Home Depot, Inc. has a one year low of $265.61 and a one year high of $347.25. 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 firm has a market cap of $318.20 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.04 and a beta of 0.94. The firm’s fifty day moving average is $299.13 and its two-hundred day moving average is $302.32.

Home Depot (NYSE:HD – Get Free Report) last posted its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $38.35 billion. During the same period in the prior year, the company posted $4.09 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Wednesday, May 31st. Home Depot’s payout ratio is currently 50.94%.

Insider Transactions at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HD shares. Loop Capital upped their price target on Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. The Goldman Sachs Group reduced their price target on Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Citigroup reduced their price target on Home Depot from $332.00 to $327.00 in a research report on Wednesday, May 10th. Morgan Stanley reduced their price target on Home Depot from $340.00 to $320.00 in a research report on Wednesday, May 17th. Finally, TheStreet downgraded Home Depot from a “b” rating to a “c+” rating in a research report on Tuesday, May 16th. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.50.

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.

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

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