Geode Capital Management LLC recently announced the acquisition of new stake in Home Depot, Inc. (NYSE:HD). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.56% to 19.68 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 1.98% valued currently at $6.17 billion. In addition, Capital Research & Management Co raised its holdings by 0.94 million to 13.77 million shares. And Norges Bank Investment Management has lifted its position by 6.74% or 0.75 million shares – to 11.84 million shares.
Currently, there are 1.02B common shares owned by the public and among those 992.79M shares have been available to trade.
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Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 134,143 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 76,868 shares.
The top 3 mutual fund holders in Home Depot, Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 31.3 million shares of the company’s stock, all valued at over $9.81 billion. The company bought an additional 0.14 million shares recently to bring their total holdings to about 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 0.12 million shares to see its total holdings expand to 24.28 million shares valued at over $7.61 billion and representing 2.44% of the shares outstanding. Fidelity 500 Index Fund bought 92737.0 shares to bring its total holdings to over 11.64 million shares at a value of $3.65 billion. Fidelity 500 Index Fund now owns shares totaling to 1.17% of the shares outstanding.
However, the script later moved the day high at 352.96, up 0.36%. The company’s stock has a 5-day price change of 5.66% and 13.26% over the past three months. HD shares are trading 11.46% year to date (YTD), with the 12-month market performance up to 8.89% higher. It has a 12-month low price of $274.26 and touched a high of $354.92 over the same period. HD has an average intraday trading volume of 3.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.45%, 15.42%, and 15.36% respectively.
Institutional ownership of Home Depot, Inc. (NYSE: HD) shares accounts for 71.33% of the company’s 1.02B shares outstanding. Mutual fund holders own 37.99%, while other institutional holders and individual stakeholders account for 4.30% and 33.71% respectively.
It has a market capitalization of $350.40B and a beta (3y monthly) value of 0.98. The stock’s trailing 12-month PE ratio is 22.59, while the earnings-per-share (ttm) stands at $15.58. The company has a PEG of 12.55 and a Quick Ratio of 0.33 with the debt-to-equity ratio at 34.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.86% over the week and 1.42% over the month.
Analysts forecast that Home Depot, Inc. (HD) will achieve an EPS of $JD.com, Inc. for the current quarter, $27.60 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Kyndryl Holdings, Inc. while analysts give the company a high EPS estimate of $Hawaiian Electric Industries, I. Comparatively, EPS for the current quarter was $Dominion Energy, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -9.71%, and 3.38% over the next financial year. EPS should shrink at an annualized rate of 1.80% over the next five years, compared to 18.01% over the past 5-year period.
Looking at the support for the HD, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Sector Perform rating for the stock in a research note on November 07, 2023, with the firm’s price target at $303.
