Berkshire Bank Sells 473 Shares of The Home Depot, Inc. (NYSE:HD)

Berkshire Bank reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,561 shares of the home improvement retailer’s stock after selling 473 shares during the quarter. Home Depot makes up approximately 1.4% of Berkshire Bank’s investment portfolio, making the stock its 16th biggest position. Berkshire Bank’s holdings in Home Depot were worth $5,703,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Navigoe LLC bought a new stake in Home Depot during the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth $32,000. Quarry LP boosted its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Sellwood Investment Partners LLC purchased a new position in Home Depot during the fourth quarter valued at $39,000. Finally, NewSquare Capital LLC increased its holdings in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.3%

Shares of HD opened at $353.59 on Tuesday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market capitalization of $351.79 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The stock has a fifty day simple moving average of $363.12 and a two-hundred day simple moving average of $381.65. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. 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 posted $3.63 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HD shares. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. TD Securities cut shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. Finally, Gordon Haskett boosted their target price on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $426.77.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following 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 position. The disclosure for this sale can be found here. 0.10% of the stock is owned by 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.