The Home Depot, Inc. (NYSE:HD) Shares Sold by Marietta Wealth Management LLC

Posted by Defense World Staff on Jul 17th, 2023

Marietta Wealth Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,214 shares of the home improvement retailer’s stock after selling 346 shares during the period. Home Depot comprises about 1.6% of Marietta Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Marietta Wealth Management LLC’s holdings in Home Depot were worth $7,441,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Home Depot by 3.2% during the 4th 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 raised its position in 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 period. Charles Schwab Investment Management Inc. raised its position in Home Depot by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,435,687 shares of the home improvement retailer’s stock worth $3,899,964,000 after acquiring an additional 607,480 shares during the period. Norges Bank purchased a new position in Home Depot during the fourth quarter valued at $3,740,875,000. Finally, Moneta Group Investment Advisors LLC grew its position in shares of 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 valued at $3,472,867,000 after purchasing an additional 10,984,516 shares during the period. 69.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Hector A. Padilla sold 1,502 shares of the firm’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 sale, the executive vice president now owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HD shares. Telsey Advisory Group decreased 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 note on Wednesday, May 17th. Sanford C. Bernstein decreased their target price on Home Depot from $333.00 to $314.00 in a research report on Wednesday, May 17th. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Loop Capital increased their price objective on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Finally, Jefferies Financial Group lifted their target price on shares of Home Depot from $337.00 to $349.00 in a research note on Wednesday, June 14th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.50.

Home Depot Price Performance

Home Depot stock opened at $316.50 on Monday. The company’s 50 day moving average is $299.13 and its two-hundred day moving average is $302.22. The firm has a market cap of $318.20 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last announced 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. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The business had revenue of $37.26 billion for the quarter, compared to analysts’ expectations of $38.35 billion. During the same period last year, the firm earned $4.09 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given 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 was Wednesday, May 31st. Home Depot’s dividend payout ratio is presently 50.94%.

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.