Meadow Creek Wealth Advisors LLC trims position in Home Depot, Inc. (NYSE:HD)


Meadow Creek Wealth Advisors LLC reduced its stake in shares of Home Depot, Inc. (NYSE: HDGet a rating) by 6.8% in the 1st quarter, Holdings Channel.com reports. The fund held 8,823 shares of the home improvement retailer’s stock after selling 642 shares during the quarter. Home Depot makes up about 2.9% of Meadow Creek Wealth Advisors LLC’s portfolio, making the stock its 4th-largest position. Meadow Creek Wealth Advisors LLC’s holdings in Home Depot were worth $2,641,000 at the end of the last quarter.

A number of other institutional investors and hedge funds have also been buying and selling stocks recently. Geode Capital Management LLC increased its position in Home Depot by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer worth $7,002,662,000 after acquiring an additional 701,811 shares in the last quarter. Norges Bank bought a new position in Home Depot during Q4 for a value of approximately $4,325,629,000. Fisher Asset Management LLC increased its holdings in Home Depot by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 7,830,978 shares of the home improvement retailer worth $3,249,934,000 after purchasing an additional 346,970 shares during the period. UBS Asset Management Americas Inc. increased its stake in Home Depot by 11.4% in the third quarter. UBS Asset Management Americas Inc. now owns 5,903,692 shares of the home improvement retailer worth $1,937,946,000 after purchasing an additional 605,827 shares during the period. Finally, Deutsche Bank AG increased its stake in Home Depot by 12.2% in the 4th quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer worth $2,166,946,000 after purchasing an additional 566,462 shares during the period. Institutional investors and hedge funds own 70.61% of the company’s shares.

Shares of NYSE: HD opened at $283.00 on Friday. The stock has a fifty-day simple moving average of $294.61 and a two-hundred-day simple moving average of $332.71. The stock has a market capitalization of $290.85 billion, a price-earnings ratio of 17.97, a PEG ratio of 1.61 and a beta of 0.97. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt ratio of 35.47.

Home deposit (NYSE: HDGet a rating) last reported quarterly earnings data on Tuesday, May 17. The home improvement retailer reported earnings per share (EPS) of $4.09 for the quarter, beating analysts’ consensus estimate of $3.67 by $0.42. The company posted revenue of $38.91 billion in the quarter, compared to $36.78 billion expected by analysts. The Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. The company’s quarterly revenue increased by 3.8% compared to the same quarter last year. In the same quarter a year earlier, the company earned $3.86 per share. As a group, equity research analysts expect The Home Depot, Inc. to post EPS of 16.47 for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 16. Shareholders of record on Thursday, June 2 received a dividend of $1.90. This represents a dividend of $7.60 on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, June 1. The Home Depot payout ratio is 48.25%.

In related news, EVP Anne Marie Campbell sold 11,293 shares of Home Depot in a trade on Tuesday, May 24. The stock was sold at an average price of $288.03, for a total value of $3,252,722.79. Following the completion of the sale, the executive vice president now owns 51,175 shares of the company, valued at $14,739,935.25. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, director BeckerCaryn Seidman acquired 1,500 shares of the company in a transaction that took place on Monday, May 23. The shares were purchased at an average cost of $287.73 per share, with a total value of $431,595.00. Following the acquisition, the director now directly owns 1,500 shares of the company, valued at $431,595. Disclosure of this purchase can be found here. 0.17% of the shares are currently held by insiders of the company.

Several research companies have looked into HD. OTR Global downgraded Home Depot to a “positive” rating in a Tuesday, May 10, report. Wedbush lowered its price target on Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a Wednesday, May 18 report. Truist Financial lowered its price target on Home Depot from $405.00 to $375.00 and set an “na” rating for the company in a Wednesday, May 18 report. Piper Sandler raised her price target on Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a Wednesday, May 18 report. Finally, Raymond James lowered his target price on Home Depot from $350.00 to $340.00 and set an “outperform” rating for the company in a Wednesday, May 18 research note. Five equity research analysts gave the stock a hold rating and sixteen gave the company a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $369.82.

About Home Depot (Get a rating)

The Home Depot, Inc. operates as a home improvement retailer. It operates Home Depot stores that sell a variety of building materials, home improvement products, lawn and garden products, and decorating products, as well as facility maintenance, repair and operation products. countertops, furnaces and central air conditioning systems, and windows.

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Want to see which other hedge funds hold HD? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The Home Depot, Inc. (NYSE: HDGet a rating).

Institutional ownership by quarter for The Home Depot (NYSE:HD)



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Chris B. Hall