NewEdge Wealth LLC has increased its holdings in The Home Depot, Inc. (NYSE: HD) by 1.8% during the third quarter of 2023. This information was disclosed in the firm’s recent 13F filing with the Securities and Exchange Commission. Following this adjustment, NewEdge Wealth now owns a total of 197,401 shares of the home improvement retailer, having acquired an additional 3,580 shares during the quarter. The company represents approximately 1.1% of NewEdge Wealth’s total investments, making it the firm’s 14th largest holding. As of the latest filing, NewEdge’s stake in Home Depot is valued at approximately $73.8 million.
Several other institutional investors have also modified their positions in Home Depot recently. For instance, Brighton Jones LLC increased its stake by an impressive 36.5% in the fourth quarter, now holding 26,918 shares valued at $10.5 million. Similarly, Sivia Capital Partners LLC raised its holdings by 7.1%, owning 2,598 shares worth approximately $952,000 following the acquisition of 173 additional shares. Ignite Planners LLC also expanded its position by 0.7%, resulting in ownership of 6,526 shares valued at $2.3 million. New entrants like Croban have acquired stakes in Home Depot, valued around $416,000. Notably, Matrix Asset Advisors Inc. NY increased its stake by 1.8%, now owning 47,617 shares worth $17.5 million. Hedge funds and other institutional investors collectively own about 70.86% of Home Depot’s stock.
In trading on Thursday, December 7, 2023, shares of Home Depot opened at $383.38. The stock has experienced a twelve-month range, hitting a low of $326.31 and a high of $426.75. With a market capitalization of $381.66 billion, the company has a price-to-earnings ratio of 26.13, a PEG ratio of 13.69, and a beta of 1.08. Additionally, Home Depot has a debt-to-equity ratio of 3.82 and a current ratio of 1.05. The firm’s 50-day simple moving average stands at $368.38, while the 200-day moving average is at $380.30.
Analysts have recently offered varying assessments of Home Depot’s stock. Bank of America reduced its target price for the stock from $450.00 to $430.00 while maintaining a “buy” rating. Robert W. Baird has raised its target price from $400.00 to $430.00, giving the stock an “outperform” rating. Conversely, Evercore decreased its target from $450.00 to $425.00, also maintaining an “outperform” rating. DZ Bank has reiterated a “sell” rating, while Weiss Ratings has affirmed a “hold (C+)” status. Overall, MarketBeat indicates that 21 investment analysts have rated the stock as a buy, 11 have assigned a hold rating, and one has issued a sell rating. The consensus target price is $408.37.
In insider trading news, Ann Marie Campbell, Executive Vice President, sold 145 shares on December 11, 2023, at an average price of $358.26, totaling $51,947.70. Post-transaction, Campbell’s remaining shares are valued at approximately $4.4 million. Additionally, Executive Vice President Angie Brown sold 1,946 shares on December 12, 2023, at an average price of $357.63, amounting to $695,947.98. This sale reduced her ownership by 33.06%, leaving her with shares valued at approximately $1.4 million. Over the past ninety days, insiders have sold a total of 4,963 shares valued at $1.7 million, with corporate insiders owning 0.10% of the company’s stock.
Home Depot, headquartered in Atlanta, Georgia, is a prominent retailer in the home improvement sector. Founded in 1978 by Bernard Marcus and Arthur Blank, the company operates large-format stores and an integrated online platform, offering a wide range of products and services for both consumers and professionals. Its core business encompasses building materials, tools, appliances, and home décor items.
For those interested in detailed insights into Home Depot’s financial situation, further information can be accessed through various financial news platforms.
