Kennebec Savings Bank Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Kennebec Savings Bank raised its position in The Home Depot, Inc. (NYSE:HD) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,954 shares of the home improvement retailer’s stock after buying an additional 78 shares during the period. Home Depot makes up about 1.1% of Kennebec Savings Bank’s holdings, making the stock its 25th biggest holding. Kennebec Savings Bank’s holdings in Home Depot were worth $1,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter valued at about $28,000. Navigoe LLC purchased a new position in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter valued at about $32,000. Quarry LP raised its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of NYSE:HD opened at $367.45 on Friday. The firm’s 50 day moving average is $361.63 and its two-hundred day moving average is $384.62. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on HD. Wells Fargo & Company cut their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Robert W. Baird cut their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an “outperform” rating in a research note on Thursday, May 22nd. DA Davidson cut their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Jefferies Financial Group cut their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Buying and Selling at Home Depot

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

About Home Depot

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.