First Citizens Bank & Trust Co. boosted its stake in Home Depot Inc (NYSE:HD) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,170 shares of the home improvement retailer’s stock after purchasing an additional 8,103 shares during the period. Home Depot makes up approximately 0.9% of First Citizens Bank & Trust Co.’s holdings, making the stock its 21st largest position. First Citizens Bank & Trust Co.’s holdings in Home Depot were worth $7,589,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Amussen Hunsaker Associates LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at $107,000. Mainstay Capital Management LLC ADV grew its position in shares of Home Depot by 203.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 597 shares of the home improvement retailer’s stock valued at $116,000 after acquiring an additional 400 shares during the period. Fort L.P. bought a new stake in shares of Home Depot during the 2nd quarter valued at $120,000. Highwater Wealth Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $124,000. Finally, Capital Advisors Ltd. LLC grew its position in shares of Home Depot by 162.0% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 613 shares of the home improvement retailer’s stock valued at $127,000 after acquiring an additional 379 shares during the period. 68.22% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Wedbush cut their price objective on shares of Home Depot from $190.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 27th. Deutsche Bank boosted their price objective on shares of Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Bank of America set a $195.00 price objective on shares of Home Depot and gave the company a “hold” rating in a research report on Monday, December 10th. Credit Suisse Group cut their price objective on shares of Home Depot from $194.00 to $192.00 and set a “neutral” rating for the company in a research report on Wednesday, February 27th. Finally, Telsey Advisory Group downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $205.00 to $192.00 in a research report on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $203.41.
In related news, EVP Ann Marie Campbell sold 5,450 shares of Home Depot stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the transaction, the executive vice president now owns 51,030 shares in the company, valued at approximately $9,423,710.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the transaction, the executive vice president now owns 86,813 shares in the company, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,194 shares of company stock worth $7,553,141. 0.25% of the stock is owned by corporate insiders.
HD opened at $182.23 on Friday. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.11. Home Depot Inc has a fifty-two week low of $158.09 and a fifty-two week high of $215.43. The firm has a market cap of $205.83 billion, a P/E ratio of 18.43, a PEG ratio of 1.58 and a beta of 1.09.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.09. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The company had revenue of $26.49 billion for the quarter, compared to analysts’ expectations of $26.57 billion. During the same quarter in the previous year, the company earned $1.69 EPS. Home Depot’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts expect that Home Depot Inc will post 10.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be paid a dividend of $1.36 per share. This is a boost from Home Depot’s previous quarterly dividend of $1.03. The ex-dividend date is Wednesday, March 13th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.99%. Home Depot’s payout ratio is 55.01%.
Home Depot announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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Home Depot Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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