Glenmede Trust Co. NA lifted its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 503,159 shares of the home improvement retailer’s stock after purchasing an additional 4,328 shares during the quarter. Home Depot accounts for approximately 0.8% of Glenmede Trust Co. NA’s investment portfolio, making the stock its 24th largest position. Glenmede Trust Co. NA owned 0.05% of Home Depot worth $165,484,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advocate Investing Services LLC bought a new stake in Home Depot during the fourth quarter worth approximately $25,000. Parvin Asset Management LLC lifted its stake in shares of Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares during the last quarter. Cache Advisors LLC purchased a new position in shares of Home Depot in the 1st quarter worth approximately $27,000. Key Capital Management INC purchased a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in shares of Home Depot in the 1st quarter worth approximately $28,000. 70.86% of the stock is owned by hedge funds and other institutional investors.
Home Depot Stock Performance
Shares of Home Depot stock opened at $332.72 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The stock’s fifty day moving average is $332.42 and its two-hundred day moving average is $344.08. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The company has a market capitalization of $331.77 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.85 and a beta of 0.95.
Home Depot Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot’s dividend payout ratio (DPR) is presently 66.19%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on HD. BNP Paribas Exane decreased their price target on Home Depot from $348.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. Wolfe Research lowered shares of Home Depot from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 23rd. Telsey Advisory Group cut their price objective on shares of Home Depot from $435.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 20th. Morgan Stanley lowered their target price on shares of Home Depot from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Finally, Oppenheimer dropped their price target on shares of Home Depot from $405.00 to $310.00 and set a “market perform” rating for the company in a research note on Monday, May 18th. Eighteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $371.71.
Check Out Our Latest Stock Analysis on Home Depot
Key Headlines Impacting Home Depot
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: Leadership realignment targets growth: Home Depot is combining its merchandising, customer experience and Pro-focused operations to create a more seamless customer experience and capture a larger share of the estimated $1.2 trillion home-improvement market. Management says the changes are intended to strengthen the core business, improve innovation and win more professional customers. The Home Depot Announces Organizational Realignment
- Positive Sentiment: Greater investment in digital advertising: Home Depot is reportedly among the major brands increasing advertising on ChatGPT as OpenAI expands its mobile advertising business. If effective, the channel could help the retailer reach consumers researching home projects and drive online sales. Brands Betting Bigger on ChatGPT Ads
About Home Depot
The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.
Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.
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