August 11, 2022

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The Home Depot, Inc. (NYSE:HD) Stock Holdings Lowered by New Jersey Better Educational Savings Trust

New Jersey Better Educational Savings Trust reduced its holdings in The Home Depot, Inc. (NYSE:HDGet Rating) by 32.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,393 shares of the home improvement retailer’s stock after selling 670 shares during the period. Home Depot makes up 1.3% of New Jersey Better Educational Savings Trust’s portfolio, making the stock its 17th largest holding. New Jersey Better Educational Savings Trust’s holdings in Home Depot were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Camden National Bank increased its position in shares of Home Depot by 9.7% in the fourth quarter. Camden National Bank now owns 2,563 shares of the home improvement retailer’s stock worth $681,000 after acquiring an additional 226 shares in the last quarter. Morgan Stanley increased its position in shares of Home Depot by 1.4% in the second quarter. Morgan Stanley now owns 11,505,713 shares of the home improvement retailer’s stock worth $3,669,058,000 after acquiring an additional 162,299 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Home Depot by 1.7% in the second quarter. Thrivent Financial for Lutherans now owns 259,237 shares of the home improvement retailer’s stock worth $82,667,000 after acquiring an additional 4,289 shares in the last quarter. Hollencrest Capital Management increased its position in shares of Home Depot by 14.9% in the third quarter. Hollencrest Capital Management now owns 4,138 shares of the home improvement retailer’s stock worth $1,359,000 after acquiring an additional 536 shares in the last quarter. Finally, BEAM Asset Management LLC increased its position in shares of Home Depot by 8.1% in the third quarter. BEAM Asset Management LLC now owns 1,131 shares of the home improvement retailer’s stock worth $371,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.

HD has been the topic of several analyst reports. Citigroup dropped their target price on shares of Home Depot from $445.00 to $377.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Robert W. Baird dropped their target price on shares of Home Depot from $425.00 to $380.00 in a research report on Tuesday, February 22nd. Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $460.00 in a research report on Wednesday, January 5th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $406.00 to $365.00 in a research report on Wednesday, February 23rd. Finally, UBS Group lowered their price objective on shares of Home Depot from $470.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $394.48.

Shares of Home Depot stock opened at $310.68 on Friday. The firm has a fifty day simple moving average of $340.07 and a 200-day simple moving average of $362.60. 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 1-year low of $296.03 and a 1-year high of $420.61. The stock has a market capitalization of $324.42 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.02 and a beta of 1.06.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $34.85 billion. During the same period in the previous year, the company earned $2.74 earnings per share. Home Depot’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 16.04 earnings per share for the current year.

The business also recently announced 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. This is a boost from Home Depot’s previous quarterly dividend of $1.65. This represents a $7.60 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, March 9th. Home Depot’s dividend payout ratio is presently 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, 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.

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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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