July 4, 2022

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New Capital Management LP Has $5.83 Million Holdings in The Home Depot, Inc. (NYSE:HD)


New Capital Management LP cut its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,048 shares of the home improvement retailer’s stock after selling 106 shares during the quarter. Home Depot makes up approximately 3.0% of New Capital Management LP’s holdings, making the stock its 9th biggest holding. New Capital Management LP’s holdings in Home Depot were worth $5,830,000 at the end of the most recent reporting period.

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

Shares of NYSE HD opened at $301.89 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.24 and a debt-to-equity ratio of 35.47. The stock has a market cap of $311.96 billion, a PE ratio of 19.45, a P/E/G ratio of 2.01 and a beta of 1.06. The company has a 50-day moving average of $335.12 and a 200 day moving average of $361.74. The Home Depot, Inc. has a 12-month low of $298.40 and a 12-month high of $420.61.

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. The company had revenue of $35.72 billion for the quarter, compared to analyst estimates of $34.85 billion. Home Depot had a net margin of 10.87% and a return on equity of 2,082.76%. Home Depot’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.74 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 16.04 EPS 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 issued a dividend of $1.90 per share. The ex-dividend date was Wednesday, March 9th. This is a positive change from Home Depot’s previous quarterly dividend of $1.65. This represents a $7.60 dividend on an annualized basis and a yield of 2.52%. Home Depot’s dividend payout ratio is 48.97%.

In related news, EVP Hector A. Padilla sold 504 shares of the stock in a transaction on Friday, March 25th. The shares were sold at an average price of $309.80, for a total value of $156,139.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

HD has been the topic of several research reports. Telsey Advisory Group cut their price objective on shares of Home Depot from $425.00 to $375.00 and set an “outperform” rating on the stock in a report on Wednesday, February 23rd. Loop Capital cut their price objective on shares of Home Depot from $380.00 to $320.00 in a report on Wednesday, February 23rd. Wells Fargo & Company raised their target price on shares of Home Depot from $420.00 to $460.00 in a research note on Wednesday, January 5th. Jefferies Financial Group lowered their target price on shares of Home Depot from $455.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. Finally, Piper Sandler lowered their target price on shares of Home Depot from $400.00 to $342.00 in a research note on Wednesday, February 23rd. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $392.83.

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, building materials, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

See Also

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

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