Stratos Wealth Partners LTD. Sells 5,256 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 17th, 2023

Stratos Wealth Partners LTD. reduced its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,471 shares of the home improvement retailer’s stock after selling 5,256 shares during the quarter. Home Depot accounts for about 0.7% of Stratos Wealth Partners LTD.’s investment portfolio, making the stock its 21st largest position. Stratos Wealth Partners LTD.’s holdings in Home Depot were worth $26,700,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HD. Slow Capital Inc. purchased a new stake in Home Depot in the first quarter worth $25,000. Fairfield Bush & CO. bought a new stake in Home Depot in the 1st quarter worth about $27,000. Glassy Mountain Advisors Inc. purchased a new position in Home Depot in the 4th quarter worth about $30,000. Studio Investment Management LLC bought a new position in Home Depot during the 4th quarter valued at about $32,000. Finally, EWG Elevate Inc. purchased a new stake in shares of Home Depot during the 4th quarter valued at about $36,000. 69.91% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.6 %

Shares of HD opened at $316.50 on Monday. The stock has a market capitalization of $318.20 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25. The business’s 50 day simple moving average is $299.13 and its 200-day simple moving average is $302.22. 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 issued its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $4.09 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts expect that The Home Depot, Inc. will post 14.97 earnings per share 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 paid a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $8.36 annualized dividend and a dividend yield of 2.64%. Home Depot’s dividend payout ratio is currently 50.94%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Home Depot from $332.00 to $327.00 in a research report on Wednesday, May 10th. Wedbush cut their price objective on Home Depot from $300.00 to $290.00 in a report on Wednesday, May 17th. Loop Capital increased their target price on Home Depot from $280.00 to $300.00 in a report on Wednesday, June 14th. Jefferies Financial Group boosted their price target on Home Depot from $337.00 to $349.00 in a research note on Wednesday, June 14th. Finally, Robert W. Baird increased their price objective on shares of Home Depot from $310.00 to $330.00 in a research note on Tuesday, June 13th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.50.

Insider Activity at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’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 completion of the sale, the executive vice president now owns 13,958 shares of the company’s stock, valued at approximately $4,090,950.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.