December 7, 2022

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Bell Bank Lowers Stake in The Home Depot, Inc. (NYSE:HD)

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Bell Bank reduced its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,694 shares of the home improvement retailer’s stock after selling 54 shares during the period. Bell Bank’s holdings in Home Depot were worth $1,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. Jennison Associates LLC lifted its position in Home Depot by 84.7% during the 3rd quarter. Jennison Associates LLC now owns 3,983,358 shares of the home improvement retailer’s stock valued at $1,307,577,000 after acquiring an additional 1,826,227 shares during the period. Nordea Investment Management AB raised its holdings in Home Depot by 104.8% in the third quarter. Nordea Investment Management AB now owns 3,147,694 shares of the home improvement retailer’s stock worth $1,054,478,000 after buying an additional 1,611,109 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Home Depot in the fourth quarter worth about $440,559,000. UBS Asset Management Americas Inc. raised its holdings in Home Depot by 11.4% in the third quarter. UBS Asset Management Americas Inc. now owns 5,903,692 shares of the home improvement retailer’s stock worth $1,937,946,000 after buying an additional 605,827 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Home Depot by 18.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,417,943 shares of the home improvement retailer’s stock worth $1,122,117,000 after buying an additional 521,895 shares during the last quarter. 69.52% of the stock is owned by institutional investors.

Several brokerages have issued reports on HD. Robert W. Baird decreased their target price on shares of Home Depot from $425.00 to $380.00 in a report on Tuesday, February 22nd. Telsey Advisory Group decreased their price objective on shares of Home Depot from $425.00 to $375.00 and set an “outperform” rating for the company in a report on Wednesday, February 23rd. TheStreet cut shares of Home Depot from a “b” rating to a “c+” rating in a report on Tuesday, February 22nd. Guggenheim decreased their price objective on shares of Home Depot from $425.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. Finally, Piper Sandler decreased their price objective on shares of Home Depot from $342.00 to $314.00 and set a “neutral” rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $387.08.

In other news, EVP Hector A. Padilla sold 504 shares of Home Depot stock in a transaction on Friday, March 25th. The stock was sold at an average price of $309.80, for a total transaction of $156,139.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Shares of Home Depot stock opened at $311.11 on Friday. The Home Depot, Inc. has a 52 week low of $293.59 and a 52 week high of $420.61. The company has a quick ratio of 0.24, a current ratio of 1.01 and a debt-to-equity ratio of 35.47. The firm has a market capitalization of $321.49 billion, a P/E ratio of 20.05, a PEG ratio of 1.94 and a beta of 1.04. The company has a 50 day moving average price of $329.46 and a 200 day moving average price of $360.51.

Home Depot (NYSE:HDGet Rating) last posted its earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.01. Home Depot had a net margin of 10.87% and a return on equity of 2,082.76%. The firm had revenue of $35.72 billion during the quarter, compared to analyst estimates of $34.85 billion. During the same period in the previous year, the firm earned $2.74 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that The Home Depot, Inc. will post 16.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 10th were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 2.44%. The ex-dividend date was Wednesday, March 9th. This is a boost from Home Depot’s previous quarterly dividend of $1.65. Home Depot’s payout ratio is 48.97%.

About Home Depot (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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