Arizona State Retirement System Has $82.13 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jul 17th, 2023

Arizona State Retirement System decreased its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 0.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 278,282 shares of the home improvement retailer’s stock after selling 655 shares during the quarter. Home Depot makes up approximately 0.7% of Arizona State Retirement System’s holdings, making the stock its 17th largest holding. Arizona State Retirement System’s holdings in Home Depot were worth $82,127,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of HD. Norges Bank acquired a new position in Home Depot during the 4th quarter worth $3,740,875,000. Moneta Group Investment Advisors LLC raised its position in shares of Home Depot by 105,205.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after acquiring an additional 10,984,516 shares during the last quarter. Cottage Street Advisors LLC raised its position in shares of Home Depot by 26,657.7% during the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock valued at $659,000 after acquiring an additional 3,567,063 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Home Depot by 37.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock valued at $2,582,715,000 after acquiring an additional 2,247,709 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Home Depot during the 1st quarter valued at $563,524,000. Institutional investors and hedge funds own 69.91% of the company’s stock.

Insider Transactions at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total transaction of $440,221.18. Following the completion of the sale, the executive vice president now owns 13,958 shares in the company, valued at $4,090,950.22. The sale 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 Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Home Depot from $325.00 to $345.00 in a research report on Thursday, June 8th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Wedbush lowered their price objective on shares of Home Depot from $300.00 to $290.00 in a research report on Wednesday, May 17th. The Goldman Sachs Group lowered their price objective on shares of Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Finally, Loop Capital upped their price objective on shares of Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.50.

Home Depot Trading Up 0.6 %

Shares of NYSE:HD opened at $316.50 on Monday. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. The company has a market capitalization of $318.20 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a 50-day simple moving average of $299.13 and a 200 day simple moving average of $302.22. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27.

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

Home Depot Announces Dividend

The company also recently disclosed 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. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio is presently 50.94%.

Home Depot Company 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.