August 13, 2022

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ForthRight Wealth Management LLC Has $213,000 Stake in The Home Depot, Inc. (NYSE:HD)

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ForthRight Wealth Management LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 68.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,127 shares of the home improvement retailer’s stock after selling 4,709 shares during the period. Home Depot makes up approximately 1.1% of ForthRight Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. ForthRight Wealth Management LLC’s holdings in Home Depot were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HD. Rinkey Investments purchased a new position in shares of Home Depot in the 4th quarter worth approximately $25,000. Shore Point Advisors LLC purchased a new position in shares of Home Depot in the 4th quarter worth approximately $26,000. Barnett & Company Inc. boosted its stake in shares of Home Depot by 173.1% in the 4th quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 45 shares during the last quarter. Retirement Group LLC boosted its stake in shares of Home Depot by 111.1% in the 4th quarter. Retirement Group LLC now owns 95 shares of the home improvement retailer’s stock worth $39,000 after buying an additional 50 shares during the last quarter. Finally, Family CFO Inc purchased a new position in shares of Home Depot in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

In related news, EVP Ann Marie Campbell sold 11,293 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the completion of the sale, the executive vice president now owns 51,175 shares of the company’s stock, valued at $14,739,935.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Becker Caryn Seidman purchased 1,500 shares of Home Depot stock in a transaction that occurred on Monday, May 23rd. The shares were purchased at an average cost of $287.73 per share, with a total value of $431,595.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $431,595. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

HD stock opened at $282.69 on Tuesday. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The company has a market cap of $290.54 billion, a P/E ratio of 17.95, a PEG ratio of 1.70 and a beta of 0.97. The firm has a 50-day moving average of $294.26 and a 200 day moving average of $330.67. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.11 and a quick ratio of 0.28.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.16%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $36.78 billion. During the same period in the prior year, the firm earned $3.86 earnings per share. Home Depot’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 16.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, June 1st. Home Depot’s dividend payout ratio is 48.25%.

Several research firms recently commented on HD. OTR Global downgraded Home Depot to a “positive” rating in a research note on Tuesday, May 10th. Wells Fargo & Company dropped their price objective on Home Depot from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Thursday, April 7th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Evercore ISI lowered their target price on shares of Home Depot to $360.00 in a report on Thursday, June 9th. Finally, Guggenheim lowered their target price on shares of Home Depot from $400.00 to $350.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $369.82.

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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