SouthState Corp boosted its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,987 shares of the home improvement retailer’s stock after buying an additional 1,049 shares during the quarter. Home Depot accounts for approximately 1.3% of SouthState Corp’s holdings, making the stock its 18th biggest position. SouthState Corp’s holdings in Home Depot were worth $16,759,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of HD. Norges Bank purchased a new stake in Home Depot in the 4th quarter worth approximately $4,325,629,000. Jennison Associates LLC increased its holdings in Home Depot by 21.1% in the 4th quarter. Jennison Associates LLC now owns 4,823,391 shares of the home improvement retailer’s stock worth $2,001,755,000 after acquiring an additional 840,033 shares in the last quarter. Geode Capital Management LLC boosted its stake in Home Depot by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock worth $7,002,662,000 after purchasing an additional 701,811 shares during the period. Deutsche Bank AG boosted its stake in Home Depot by 12.2% in the 4th quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock worth $2,166,946,000 after purchasing an additional 566,462 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Home Depot by 41.0% in the 4th quarter. 1832 Asset Management L.P. now owns 1,503,876 shares of the home improvement retailer’s stock worth $622,418,000 after purchasing an additional 436,942 shares during the period. Hedge funds and other institutional investors own 70.61% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on HD. Morgan Stanley dropped their price target on Home Depot from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Citigroup upped their price target on Home Depot from $327.00 to $348.00 in a research note on Friday, May 20th. Piper Sandler increased their target price on Home Depot from $310.00 to $321.00 and gave the company a “neutral” rating in a research report on Wednesday, May 18th. Gordon Haskett downgraded Home Depot from a “buy” rating to an “accumulate” rating in a research report on Friday, May 6th. Finally, MKM Partners initiated coverage on Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 target price for the company. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $368.45.
Home Depot Stock Performance
Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.42. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $36.78 billion. Home Depot had a negative return on equity of 21,952.60% and a net margin of 10.83%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.86 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 16.39 earnings per share for the current fiscal year.
Home Depot Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $7.60 annualized dividend and a dividend yield of 2.47%. Home Depot’s dividend payout ratio is presently 48.25%.
Insider Activity at Home Depot
In other Home Depot news, EVP Ann Marie Campbell sold 11,293 shares of the company’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the sale, the executive vice president now owns 51,175 shares in the company, valued at approximately $14,739,935.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Home Depot news, Director Becker Caryn Seidman acquired 1,500 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were acquired at an average price of $287.73 per share, for a total transaction of $431,595.00. Following the acquisition, the director now owns 1,500 shares in the company, valued at approximately $431,595. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 11,293 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the completion of the sale, the executive vice president now directly owns 51,175 shares of the company’s stock, valued at $14,739,935.25. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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