Geode Capital Management LLC has recently announced that it has increased stake in Home Depot, Inc. (NYSE:HD) by 1.56%. After grabbing 19.68 million shares, the institutional investor is now in possession of 0.3 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 1.97% having worth around $5.6 billion. Moreover, Capital Research & Management Co increased its share by 0.94 million to have a control over 13.77 million shares. And Norges Bank Investment Management raised its holdings to 0.75 million shares by acquiring 11.84 million shares or 1.18% of the stake.
Home Depot, Inc. (HD) concluded trading on 12/07/23 at a closing price of $326.17, with 2.67 million shares of worth about $869.93 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.33% during that period and on Thursday the price saw a gain of about 0.02%. Currently the company’s common shares owned by public are about 1.02B shares, out of which, 992.76M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 38 analysts are covering the HD stock and their offered price forecasts bring an average price target of $329.65. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $380.00 and could fall to a lowest price of $242.00. The stock’s current price level is 1.06% above of average price target set by the analysts, while a rise to estimated low would result in loss of -34.78% for the stock. However, touching the estimated high of $380.00 would mean a gain of 14.17% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 75 times over the past 12 months. They bought 134,143 shares in 29 of the transactions. In 46 selling transactions, insiders dumped 76,868 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Home Depot, Inc. Vanguard Total Stock Market ETF is currently holding 31.3 million shares of worth totaling $8.91 billion. The company recently came buying 0.14 million shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.12 million shares, after which its hold over company’s outstanding shares expand to 2.43%, leaving 24.28 million shares with the mutual fund that have a worth of about $6.91 billion. Government Pension Fund – Global, after buying 11.6 million shares, have now control over 1.16% of the stake in the company. It holds 1.42 million shares of worth $3.3 billion.
Stock saw a price change of 4.04% in past 5 days and over the past one month there was a price change of 10.65%. Year-to-date (YTD), HD shares are showing a performance of 3.26% which increased to 2.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $274.26 but also hit the highest price of $347.25 during that period. The average intraday trading volume for Home Depot, Inc. shares is 3.02 million. The stock is currently trading 5.82% above its 20-day simple moving average (SMA20), while that difference is up 9.37% for SMA50 and it goes to 7.49% higher than SMA200.
Geode Capital Management LLC acquired 19.68 million shares of Home Depot, Inc. having value of about $5.6 billion. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 0.3 million shares in the company valued at close to $98303723.96, or have control over 1.56% stake in the company. Home Depot, Inc. (NYSE: HD) currently have 1.02B outstanding shares and institutions hold larger chunk of about 71.33% of that. Holding of mutual funds in the company is about 37.72% while other institutional holders and individual stake holders have control over 4.28% and 33.62% of the stake respectively.
The stock has a current market capitalization of $324.62B and its 3Y-monthly beta is at 0.96. PE ratio of stock for trailing 12 months is 20.93, while it has posted earnings per share of $15.58 in the same period. Its PEG reads 12.31 and has Quick Ratio of 0.33 while making debt-to-equity ratio of 34.44. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HD, volatility over the week remained 1.50% while standing at 1.42% over the month.
Analysts are in expectations that Home Depot, Inc. (HD) stock would likely to be making an EPS of $Hawaiian Holdings, Inc. in the current quarter, while forecast for next quarter EPS is $13.76 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $JD.com, Inc. which is $Hawaiian Electric Industries, I at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Dominion Energy, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -9.73% while it is estimated to increase by 3.48% in next year. EPS is likely to shrink at an annualized rate of 1.70% for next 5-years, compared to annual growth of 18.01% made by the stock over the past 5-years.
Analysts at 38 brokerage firms have issued recommendations for the Home Depot, Inc. (HD)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.16. Out of those 38 Wall Street analysts, 17 recommended a “Buy” rating, while 16 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by RBC Capital Mkts on November 07, 2023 offering a Sector perform rating for the stock and assigned a target price of $303 to it.
