Home Federal Bank of Tennessee Has $3.48 Million Stake in The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Jun 28th, 2023

Home Federal Bank of Tennessee cut its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,792 shares of the home improvement retailer’s stock after selling 105 shares during the quarter. Home Depot makes up approximately 1.3% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 10th largest holding. Home Federal Bank of Tennessee’s holdings in Home Depot were worth $3,480,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HD. Norges Bank bought a new position in Home Depot in the fourth quarter worth about $3,740,875,000. Moneta Group Investment Advisors LLC raised its holdings in Home Depot by 105,205.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after purchasing an additional 10,984,516 shares in the last quarter. Cottage Street Advisors LLC increased its holdings 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. Price T Rowe Associates Inc. MD increased its holdings in shares of Home Depot by 37.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock valued at $2,582,715,000 after acquiring an additional 2,247,709 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Home Depot during the first quarter valued at about $563,524,000. 69.91% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction on Wednesday, May 17th. The stock was 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 approximately $4,090,950.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Home Depot Trading Up 1.9 %

Shares of HD opened at $313.74 on Wednesday. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02. The firm’s fifty day moving average is $295.19 and its two-hundred day moving average is $303.30. The stock has a market cap of $315.43 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. 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 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Research analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $2.09 per share. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.66%. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

Wall Street Analyst Weigh In

HD has been the topic of several recent analyst reports. Truist Financial cut their price objective on shares of Home Depot from $352.00 to $318.00 in a report on Wednesday, May 17th. Sanford C. Bernstein reduced their price target on shares of Home Depot from $333.00 to $314.00 in a research report on Wednesday, May 17th. Citigroup reduced their price target on shares of Home Depot from $332.00 to $327.00 in a research report on Wednesday, May 10th. Jefferies Financial Group raised their price target on shares of Home Depot from $337.00 to $349.00 in a research report on Wednesday, June 14th. Finally, Wells Fargo & Company raised their price target on shares of Home Depot from $325.00 to $345.00 in a research report on Thursday, June 8th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.