Community Trust & Investment Co. raised its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,985 shares of the home improvement retailer’s stock after acquiring an additional 867 shares during the period. Community Trust & Investment Co.’s holdings in Home Depot were worth $3,537,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Home Depot by 1.1% during the third quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock valued at $26,059,943,000 after purchasing an additional 1,011,858 shares during the period. Geode Capital Management LLC boosted its stake in shares of Home Depot by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 19,008,019 shares of the home improvement retailer’s stock valued at $5,993,612,000 after purchasing an additional 585,226 shares during the period. Morgan Stanley boosted its stake in shares of Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after purchasing an additional 1,698,402 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Home Depot by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,435,687 shares of the home improvement retailer’s stock worth $3,899,964,000 after acquiring an additional 607,480 shares during the period. Finally, Norges Bank purchased a new stake in Home Depot in the fourth quarter worth $3,740,875,000. 69.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on HD shares. Robert W. Baird raised their price target on Home Depot from $310.00 to $330.00 in a research note on Tuesday, June 13th. Truist Financial dropped their price target on Home Depot from $352.00 to $318.00 in a research note on Wednesday, May 17th. Wells Fargo & Company raised their price target on Home Depot from $325.00 to $345.00 in a research note on Thursday, June 8th. Loop Capital raised their price target on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Finally, Sanford C. Bernstein dropped their price target on Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $323.43.
Home Depot Price Performance
Home Depot (NYSE:HD – Free Report) last released its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $38.35 billion. During the same period last year, the company earned $4.09 EPS. Home Depot’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts forecast that The Home Depot, Inc. will post 14.97 EPS for the current year.
Home Depot Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.69%. Home Depot’s payout ratio is 50.94%.
Insiders Place Their Bets
In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total value of $440,221.18. Following the transaction, the executive vice president now directly owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.
Home Depot Company Profile
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.
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