March 4, 2024

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The Home Depot, Inc. (NYSE:HD) Shares Bought by Demars Financial Group LLC

Demars Financial Group LLC raised its stake in The Home Depot, Inc. (NYSE:HDGet Rating) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,280 shares of the home improvement retailer’s stock after acquiring an additional 117 shares during the period. Home Depot accounts for approximately 2.7% of Demars Financial Group LLC’s portfolio, making the stock its 5th largest position. Demars Financial Group LLC’s holdings in Home Depot were worth $5,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Jennison Associates LLC boosted its stake 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 buying an additional 1,826,227 shares during the period. Nordea Investment Management AB lifted its position 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 valued at $1,054,478,000 after purchasing an additional 1,611,109 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Home Depot in the fourth quarter valued at about $440,559,000. UBS Asset Management Americas Inc. lifted its position 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 valued at $1,937,946,000 after purchasing an additional 605,827 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $1,122,117,000 after purchasing an additional 521,895 shares during the period. Institutional investors own 69.52% of the company’s stock.

A number of equities research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Home Depot from $448.00 to $405.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a research note on Friday, February 25th. Wedbush dropped their price objective on Home Depot from $410.00 to $340.00 in a research note on Wednesday, February 23rd. Morgan Stanley dropped their price objective on Home Depot from $420.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, February 23rd. Finally, StockNews.com started coverage on Home Depot in a research report on Thursday, March 31st. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $387.08.

In other news, EVP Hector A. Padilla sold 504 shares of the company’s 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. Corporate insiders own 0.18% of the company’s stock.

NYSE:HD traded up $8.36 during trading hours on Friday, hitting $311.11. 5,741,921 shares of the stock traded hands, compared to its average volume of 5,251,829. The firm has a 50 day moving average price of $329.46 and a 200 day moving average price of $360.68. 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 Home Depot, Inc. has a fifty-two week low of $293.59 and a fifty-two week high of $420.61. The firm has a market cap of $321.49 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.99 and a beta of 1.04.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $35.72 billion for the quarter, compared to the consensus estimate of $34.85 billion. During the same period in the prior year, the business posted $2.74 earnings per share. Home Depot’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th were paid a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, March 9th. This is an increase from Home Depot’s previous quarterly dividend of $1.65. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.44%. Home Depot’s dividend payout ratio is 48.97%.

Home Depot Profile (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.

Further Reading

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HDGet Rating).

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

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