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Adams Diversified Equity Fund Inc. Has $7.15 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Financial News Live · Jul 16, 2022 08:51

Adams Diversified Equity Fund Inc. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,900 shares of the home improvement retailer's stock after selling 3,400 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Home Depot were worth $7,154,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HD. Capital Insight Partners LLC raised its stake in Home Depot by 1.0% during the 4th quarter. Capital Insight Partners LLC now owns 10,164 shares of the home improvement retailer's stock worth $4,218,000 after buying an additional 101 shares during the period. Kinloch Capital LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $261,000. Kolinsky Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $2,287,000. Herold Advisors Inc. raised its stake in shares of Home Depot by 1.2% in the 4th quarter. Herold Advisors Inc. now owns 10,190 shares of the home improvement retailer's stock valued at $4,229,000 after purchasing an additional 125 shares during the period. Finally, Insight Folios Inc raised its stake in shares of Home Depot by 8.1% in the 4th quarter. Insight Folios Inc now owns 1,411 shares of the home improvement retailer's stock valued at $586,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 70.61% of the company's stock.

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Home Depot Trading Up 1.0 %

Home Depot stock opened at $292.41 on Friday. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.28 and a current ratio of 1.11. The stock has a market capitalization of $300.53 billion, a P/E ratio of 18.57, a PEG ratio of 1.74 and a beta of 0.98. The stock has a 50-day simple moving average of $287.95 and a 200 day simple moving average of $320.34.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.42. The business had revenue of $38.91 billion during the quarter, compared to analysts' expectations of $36.78 billion. Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. Home Depot's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $3.86 earnings per share. Analysts expect that The Home Depot, Inc. will post 16.47 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were given a dividend of $1.90 per share. The ex-dividend date was Wednesday, June 1st. This represents a $7.60 annualized dividend and a yield of 2.60%. Home Depot's dividend payout ratio (DPR) is presently 48.25%.

Insiders Place Their Bets

In other Home Depot news, EVP Hector A. Padilla sold 136 shares of the firm's stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total transaction of $39,335.28. Following the completion of the sale, the executive vice president now directly owns 11,230 shares in the company, valued at $3,248,052.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Home Depot news, Director Becker Caryn Seidman purchased 1,500 shares of the company's stock in a transaction dated Monday, May 23rd. The stock was bought at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $431,595. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hector A. Padilla sold 136 shares of Home Depot stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total transaction of $39,335.28. Following the completion of the sale, the executive vice president now owns 11,230 shares of the company's stock, valued at $3,248,052.90. The disclosure for this sale can be found here. Company insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the topic of several recent research reports. Evercore ISI dropped their price target on Home Depot to $360.00 in a research note on Thursday, June 9th. OTR Global downgraded Home Depot to a "positive" rating in a research note on Tuesday, May 10th. Guggenheim dropped their price target on Home Depot from $400.00 to $350.00 and set a "na" rating on the stock in a research note on Wednesday, May 18th. MKM Partners initiated coverage on Home Depot in a research note on Thursday, June 23rd. They issued a "neutral" rating and a $285.00 price target on the stock. Finally, DA Davidson dropped their price target on Home Depot from $354.00 to $330.00 and set a "na" rating on the stock in a research note on Wednesday, May 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $369.82.

Home Depot Company Profile

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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.