Vancity Investment Management Ltd Buys 320 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Sep 9th, 2023

Vancity Investment Management Ltd grew its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,357 shares of the home improvement retailer’s stock after purchasing an additional 320 shares during the period. Home Depot makes up about 2.0% of Vancity Investment Management Ltd’s portfolio, making the stock its 17th biggest position. Vancity Investment Management Ltd’s holdings in Home Depot were worth $14,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of HD. Willis Investment Counsel lifted its stake in shares of Home Depot by 0.4% during the 1st quarter. Willis Investment Counsel now owns 98,795 shares of the home improvement retailer’s stock worth $29,156,000 after acquiring an additional 433 shares during the last quarter. Virtu Financial LLC purchased a new position in Home Depot during the 1st quarter worth $1,332,000. Howard Financial Services LTD. increased its holdings in Home Depot by 7.2% during the 1st quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock worth $215,000 after purchasing an additional 49 shares during the period. Value Partners Investments Inc. increased its holdings in Home Depot by 20.2% during the 1st quarter. Value Partners Investments Inc. now owns 132,439 shares of the home improvement retailer’s stock worth $39,081,000 after purchasing an additional 22,217 shares during the period. Finally, CWM LLC increased its holdings in Home Depot by 3.0% during the 1st quarter. CWM LLC now owns 101,411 shares of the home improvement retailer’s stock worth $29,928,000 after purchasing an additional 2,984 shares during the period. 68.34% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $328.73 on Friday. The stock has a market cap of $328.75 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. The business has a 50-day simple moving average of $324.00 and a 200-day simple moving average of $304.20. The company has a quick ratio of 0.35, a current ratio of 1.31 and a debt-to-equity ratio of 30.53. 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 issued its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.20. The business had revenue of $42.92 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Home Depot had a return on equity of 1,424.89% and a net margin of 10.48%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.05 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.24 EPS for the current year.

Home Depot declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 15th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be issued a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $8.36 annualized dividend and a dividend yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is presently 52.22%.

Insider Activity

In other news, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the transaction, the chief accounting officer now owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Kimberly R. Scardino sold 1,600 shares of Home Depot stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the transaction, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of Home Depot stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total value of $1,974,824.02. Following the completion of the transaction, the executive vice president now owns 22,749 shares of the company’s stock, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Insiders sold a total of 19,811 shares of company stock valued at $6,441,376 in the last quarter. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Home Depot from $345.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Sanford C. Bernstein raised their price objective on Home Depot from $314.00 to $328.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. The Goldman Sachs Group lifted their price target on Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Telsey Advisory Group lifted their price target on Home Depot from $315.00 to $335.00 in a report on Wednesday, August 16th. Finally, Loop Capital lifted their price target on Home Depot from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.62.

Check Out Our Latest Report on HD

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.