The Home Depot, Inc. (NYSE:HD) Shares Purchased by FORVIS Wealth Advisors LLC

Posted by Defense World Staff on Jul 16th, 2023

FORVIS Wealth Advisors LLC increased its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,229 shares of the home improvement retailer’s stock after acquiring an additional 334 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Home Depot were worth $2,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Teamwork Financial Advisors LLC lifted its position in Home Depot by 1.4% in the fourth quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock valued at $729,000 after buying an additional 31 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its position in Home Depot by 0.5% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 5,769 shares of the home improvement retailer’s stock valued at $1,822,000 after buying an additional 31 shares during the last quarter. Summit Asset Management LLC lifted its position in Home Depot by 0.9% in the fourth quarter. Summit Asset Management LLC now owns 3,491 shares of the home improvement retailer’s stock valued at $1,103,000 after buying an additional 31 shares during the last quarter. Monterey Private Wealth Inc. lifted its position in Home Depot by 2.2% in the fourth quarter. Monterey Private Wealth Inc. now owns 1,495 shares of the home improvement retailer’s stock valued at $472,000 after buying an additional 32 shares during the last quarter. Finally, Edge Capital Group LLC lifted its position in Home Depot by 0.3% in the fourth quarter. Edge Capital Group LLC now owns 12,708 shares of the home improvement retailer’s stock valued at $4,014,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 69.91% of the company’s stock.

Insider Activity at Home Depot

In related news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction 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 transaction, the executive vice president now directly 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 accessible through this link. 0.19% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $316.50 on Friday. The firm’s fifty day simple moving average is $299.13 and its 200-day simple moving average is $302.32. The stock has a market capitalization 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 Home Depot, Inc. has a 12 month low of $265.61 and a 12 month high of $347.25. 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 – Get Free Report) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. The business had revenue of $37.26 billion for the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given 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 2.64%. Home Depot’s dividend payout ratio (DPR) is 50.94%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HD. Telsey Advisory Group reduced 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 report on Wednesday, May 17th. Loop Capital increased their price target on shares of Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Wedbush cut their target price on shares of Home Depot from $300.00 to $290.00 in a research note on Wednesday, May 17th. Finally, Morgan Stanley cut their target price on shares of Home Depot from $340.00 to $320.00 in a research note on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target 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.