Citizens Business Bank Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

Citizens Business Bank lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 8,540 shares of the home improvement retailer’s stock after selling 658 shares during the period. Citizens Business Bank’s holdings in Home Depot were worth $2,960,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. MONECO Advisors LLC grew its holdings in Home Depot by 2.3% during the 4th quarter. MONECO Advisors LLC now owns 3,195 shares of the home improvement retailer’s stock valued at $1,107,000 after purchasing an additional 71 shares in the last quarter. Northcape Wealth Management LLC boosted its position in Home Depot by 4.4% in the 4th quarter. Northcape Wealth Management LLC now owns 7,506 shares of the home improvement retailer’s stock valued at $2,601,000 after buying an additional 317 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Home Depot by 13.8% during the fourth quarter. Brighton Jones LLC now owns 22,035 shares of the home improvement retailer’s stock valued at $7,636,000 after acquiring an additional 2,665 shares in the last quarter. WealthTrust Axiom LLC increased its position in shares of Home Depot by 11.6% during the fourth quarter. WealthTrust Axiom LLC now owns 2,486 shares of the home improvement retailer’s stock worth $862,000 after acquiring an additional 259 shares during the last quarter. Finally, LGL Partners LLC lifted its stake in shares of Home Depot by 10.2% in the fourth quarter. LGL Partners LLC now owns 1,624 shares of the home improvement retailer’s stock worth $563,000 after acquiring an additional 150 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of NYSE:HD traded down $2.57 on Tuesday, hitting $334.23. The company’s stock had a trading volume of 3,088,022 shares, compared to its average volume of 3,341,935. The company has a market capitalization of $331.23 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock’s 50-day moving average is $364.25 and its two-hundred day moving average is $341.58.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Evercore ISI dropped their price objective on Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. DA Davidson reissued a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $325.00 to $372.00 in a research note on Thursday, January 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $375.96.

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.