Bank of Stockton Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Bank of Stockton reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,376 shares of the home improvement retailer’s stock after selling 204 shares during the quarter. Home Depot makes up about 1.2% of Bank of Stockton’s holdings, making the stock its 17th biggest holding. Bank of Stockton’s holdings in Home Depot were worth $3,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HD. Wealth Group Ltd. boosted its holdings in shares of Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after buying an additional 27 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Snider Financial Group boosted its holdings in shares of Home Depot by 90.7% during the 4th quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer’s stock valued at $559,000 after buying an additional 683 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. Finally, FFT Wealth Management LLC boosted its stake in Home Depot by 12.6% in the 4th quarter. FFT Wealth Management LLC now owns 785 shares of the home improvement retailer’s stock worth $305,000 after purchasing an additional 88 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price target for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Mizuho dropped their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Truist Financial upped their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insider Activity

In related news, 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 value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 completion of the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $363.70 on Friday. 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 $361.85 billion, a P/E ratio of 24.67, a PEG ratio of 3.44 and a beta of 1.02. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The company has a 50-day moving average price of $363.28 and a 200-day moving average price of $378.21.

Home Depot (NYSE:HD) last released 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 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the previous year, the company earned $3.63 EPS. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

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.