First Interstate Bank reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 5.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,312 shares of the home improvement retailer’s stock after selling 124 shares during the period. First Interstate Bank’s holdings in Home Depot were worth $692,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Shore Point Advisors LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $26,000. Rinkey Investments purchased a new position in shares of Home Depot in the fourth quarter valued at $25,000. Barnett & Company Inc. boosted its stake in shares of Home Depot by 173.1% in the fourth quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 45 shares during the period. Tobam purchased a new position in shares of Home Depot in the first quarter valued at $27,000. Finally, Fairfield Bush & CO. purchased a new position in shares of Home Depot in the first quarter valued at $27,000. 70.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on HD shares. Raymond James decreased their target price on shares of Home Depot from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, May 18th. Wedbush decreased their target price on shares of Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. Truist Financial decreased their target price on shares of Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. OTR Global downgraded shares of Home Depot to a “positive” rating in a research note on Tuesday, May 10th. Finally, StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $368.45.
Home Depot Stock Performance
Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $36.78 billion. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.60%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.86 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 16.43 EPS for the current fiscal year.
Home Depot Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot’s dividend payout ratio (DPR) is presently 48.25%.
Insider Buying and Selling
In related news, EVP Ann Marie Campbell sold 11,293 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the sale, the executive vice president now owns 51,175 shares of the company’s stock, valued at approximately $14,739,935.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Becker Caryn Seidman acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were acquired at an average price of $287.73 per share, with a total value of $431,595.00. Following the acquisition, the director now directly owns 1,500 shares in the company, valued at $431,595. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 11,293 shares of the stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the completion of the sale, the executive vice president now directly owns 51,175 shares in the company, valued at approximately $14,739,935.25. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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