City State Bank Grows Position in The Home Depot, Inc. (NYSE:HD)

City State Bank raised its holdings in The Home Depot, Inc. (NYSE:HD) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,749 shares of the home improvement retailer’s stock after acquiring an additional 130 shares during the period. City State Bank’s holdings in Home Depot were worth $1,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter valued at about $28,000. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $32,000. Quarry LP grew its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Sellwood Investment Partners LLC bought a new position in Home Depot during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Trading Down 0.5%

HD opened at $367.45 on Friday. The stock has a market cap of $365.59 billion, a PE ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business has a 50 day moving average of $361.63 and a 200-day moving average of $384.72. The Home Depot, Inc. has a 52 week low of $323.93 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.63 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Morgan Stanley restated an “overweight” rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.