City State Bank Boosts Stake in The Home Depot, Inc. (NYSE:HD)

City State Bank lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,749 shares of the home improvement retailer’s stock after purchasing an additional 130 shares during the quarter. City State Bank’s holdings in Home Depot were worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC increased its holdings in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after buying an additional 24 shares during the last quarter. Live Oak Private Wealth LLC increased its holdings in Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after buying an additional 25 shares during the last quarter. Mezzasalma Advisors LLC increased its holdings in Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock valued at $255,000 after buying an additional 25 shares during the last quarter. Finally, Focused Wealth Management Inc increased its holdings in Home Depot by 2.4% in the fourth quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer’s stock valued at $421,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $367.45 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $365.59 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The firm has a 50-day simple moving average of $361.63 and a 200-day simple moving average of $384.72.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. Home Depot’s payout ratio is currently 62.42%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s 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 directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a report on Monday. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Finally, Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $426.77.

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.