The Home Depot, Inc. (NYSE:HD) Shares Sold by Legacy Private Trust Co.

Posted by Defense World Staff on Jun 24th, 2023

Legacy Private Trust Co. reduced its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,846 shares of the home improvement retailer’s stock after selling 540 shares during the period. Legacy Private Trust Co.’s holdings in Home Depot were worth $2,020,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Cottage Street Advisors LLC grew its stake in shares of Home Depot by 26,657.7% during the fourth quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock valued at $659,000 after acquiring an additional 3,567,063 shares in the last quarter. Sigma Planning Corp grew its stake in shares of Home Depot by 1.6% during the fourth quarter. Sigma Planning Corp now owns 43,430 shares of the home improvement retailer’s stock valued at $13,718,000 after acquiring an additional 672 shares in the last quarter. Howard Financial Services LTD. grew its stake in shares of Home Depot by 7.2% during the first quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock valued at $215,000 after acquiring an additional 49 shares in the last quarter. Legacy Bridge LLC grew its stake in shares of Home Depot by 1.8% during the fourth quarter. Legacy Bridge LLC now owns 5,213 shares of the home improvement retailer’s stock valued at $1,647,000 after acquiring an additional 90 shares in the last quarter. Finally, Centurion Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at about $411,000. 69.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In related news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction of $440,221.18. Following the transaction, the executive vice president now owns 13,958 shares in the company, valued at $4,090,950.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Home Depot Stock Performance

HD opened at $300.77 on Friday. The business’s 50 day moving average is $294.65 and its 200-day moving average is $303.67. The stock has a market cap of $302.39 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The company has a current ratio of 1.27, a quick ratio of 0.28 and a debt-to-equity ratio of 113.02. The Home Depot, Inc. has a twelve month low of $265.61 and a twelve month high of $347.25.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The company had revenue of $37.26 billion for the quarter, compared to analysts’ expectations of $38.35 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.78%. Home Depot’s dividend payout ratio is presently 50.94%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Loop Capital raised their target price on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. StockNews.com assumed coverage on Home Depot in a research note on Thursday, May 18th. They set a “hold” rating for the company. Credit Suisse Group lowered their target price on Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. Robert W. Baird lifted their price target on Home Depot from $310.00 to $330.00 in a research note on Tuesday, June 13th. Finally, TheStreet downgraded Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.43.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. 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.