The Home Depot, Inc. (NYSE:HD) is Kinneret Advisory LLC’s 8th Largest Position

Posted by Defense World Staff on Jul 17th, 2023

Kinneret Advisory LLC reduced its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,484 shares of the home improvement retailer’s stock after selling 2,068 shares during the period. Home Depot accounts for about 1.5% of Kinneret Advisory LLC’s holdings, making the stock its 8th biggest position. Kinneret Advisory LLC’s holdings in Home Depot were worth $11,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Home Depot by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 19,008,019 shares of the home improvement retailer’s stock worth $5,993,612,000 after buying an additional 585,226 shares during the period. Morgan Stanley grew its position in shares of Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after acquiring an additional 1,698,402 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Home Depot by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,435,687 shares of the home improvement retailer’s stock valued at $3,899,964,000 after purchasing an additional 607,480 shares during the last quarter. Norges Bank acquired a new stake in Home Depot during the 4th quarter worth $3,740,875,000. Finally, Moneta Group Investment Advisors LLC grew its position in 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 worth $3,472,867,000 after purchasing an additional 10,984,516 shares during the last quarter. Institutional investors and hedge funds own 69.91% of the company’s stock.

Home Depot Price Performance

HD stock opened at $316.50 on Monday. The stock’s 50 day moving average price is $299.13 and its 200 day moving average price is $302.22. The firm has a market cap of $318.20 billion, a P/E ratio of 19.29, a PEG ratio of 2.06 and a beta of 0.94. 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 Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings data 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. The business 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 business’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $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 fiscal year.

Home Depot Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HD shares. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Guggenheim dropped their target price on Home Depot from $335.00 to $320.00 in a report on Wednesday, May 17th. Telsey Advisory Group decreased their price target on Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 17th. Sanford C. Bernstein dropped their price objective on shares of Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. Finally, The Goldman Sachs Group reduced their target price on shares of Home Depot from $340.00 to $330.00 in a research note 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’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $324.50.

Insider Activity at Home Depot

In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total value of $440,221.18. Following the completion of the transaction, the executive vice president now directly owns 13,958 shares in the company, valued at approximately $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

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.