March 4, 2024

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6 Meridian Has $2.44 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

6 Meridian reduced its stake in The Home Depot, Inc. (NYSE:HDGet Rating) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,867 shares of the home improvement retailer’s stock after selling 85 shares during the period. 6 Meridian’s holdings in Home Depot were worth $2,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Core Alternative Capital acquired a new position in shares of Home Depot during the third quarter valued at about $29,000. Macroview Investment Management LLC lifted its position in Home Depot by 83.3% in the 4th quarter. Macroview Investment Management LLC now owns 110 shares of the home improvement retailer’s stock valued at $46,000 after acquiring an additional 50 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new position in Home Depot in the 4th quarter valued at about $47,000. Strategic Asset Management LLC acquired a new position in Home Depot during the 3rd quarter valued at about $41,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Home Depot during the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 69.52% of the company’s stock.

In related news, EVP Hector A. Padilla sold 504 shares of the stock in a transaction on Friday, March 25th. The stock was sold at an average price of $309.80, for a total value of $156,139.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Several research analysts recently issued reports on HD shares. StockNews.com started coverage on Home Depot in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird cut their target price on Home Depot from $425.00 to $380.00 in a research report on Tuesday, February 22nd. Raymond James cut their target price on Home Depot from $420.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 23rd. TheStreet cut Home Depot from a “b” rating to a “c+” rating in a research report on Tuesday, February 22nd. Finally, Citigroup cut their target price on Home Depot from $445.00 to $377.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $387.08.

Home Depot stock opened at $311.11 on Friday. The firm has a market capitalization of $321.49 billion, a P/E ratio of 20.05, a PEG ratio of 1.99 and a beta of 1.04. The Home Depot, Inc. has a one year low of $293.59 and a one year high of $420.61. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.01 and a quick ratio of 0.24. The business has a fifty day moving average price of $329.46 and a 200-day moving average price of $360.68.

Home Depot (NYSE:HDGet Rating) last issued its earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 EPS for the quarter, topping the consensus estimate of $3.20 by $0.01. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The business had revenue of $35.72 billion during the quarter, compared to the consensus estimate of $34.85 billion. During the same quarter last year, the company earned $2.74 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 16 earnings per share for the current fiscal year.

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