Lawson Kroeker Investment Management Inc. NE Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Oct 9th, 2023

Lawson Kroeker Investment Management Inc. NE trimmed its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 689 shares of the home improvement retailer’s stock after selling 52 shares during the period. Lawson Kroeker Investment Management Inc. NE’s holdings in Home Depot were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in Home Depot by 1.9% in the second quarter. Venturi Wealth Management LLC now owns 35,369 shares of the home improvement retailer’s stock worth $10,987,000 after purchasing an additional 676 shares during the last quarter. Annex Advisory Services LLC lifted its position in shares of Home Depot by 1.6% during the 2nd quarter. Annex Advisory Services LLC now owns 29,887 shares of the home improvement retailer’s stock valued at $9,284,000 after buying an additional 469 shares in the last quarter. Wealth Management Partners LLC lifted its position in shares of Home Depot by 1.9% during the 2nd quarter. Wealth Management Partners LLC now owns 6,443 shares of the home improvement retailer’s stock valued at $2,001,000 after buying an additional 123 shares in the last quarter. Values Added Financial LLC purchased a new position in shares of Home Depot during the 2nd quarter valued at about $406,000. Finally, Blue Zone Wealth Advisors LLC lifted its position in shares of Home Depot by 13.1% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 890 shares of the home improvement retailer’s stock valued at $276,000 after buying an additional 103 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock opened at $292.82 on Monday. The stock’s fifty day moving average is $320.63 and its two-hundred day moving average is $306.78. The company has a market capitalization of $292.84 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96. 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 $267.86 and a 52 week high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 EPS for the quarter, beating the consensus estimate of $4.45 by $0.20. The company had revenue of $42.92 billion for the quarter, compared to the consensus estimate of $42.19 billion. Home Depot had a return on equity of 1,424.89% and a net margin of 10.48%. Home Depot’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.05 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.24 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were issued a $2.09 dividend. This represents a $8.36 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Wednesday, August 30th. Home Depot’s dividend payout ratio is 52.22%.

Home Depot announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Telsey Advisory Group lowered their price objective on Home Depot from $335.00 to $330.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 4th. Wells Fargo & Company boosted their price target on Home Depot from $345.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. HSBC initiated coverage on Home Depot in a report on Friday, September 22nd. They issued a “hold” rating and a $365.00 price target on the stock. Stifel Nicolaus initiated coverage on Home Depot in a report on Wednesday, September 6th. They issued a “hold” rating and a $350.00 price target on the stock. Finally, StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a report on Saturday. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.27.

Check Out Our Latest Stock Analysis on Home Depot

Insiders Place Their Bets

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

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.