Cypress Capital Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,155 shares of the home improvement retailer’s stock after selling 5,245 shares during the quarter. Home Depot comprises about 2.0% of Cypress Capital Management LLC’s portfolio, making the stock its 14th biggest position. Cypress Capital Management LLC’s holdings in Home Depot were worth $10,528,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in HD. AMG National Trust Bank boosted its position in shares of Home Depot by 5.8% in the 3rd quarter. AMG National Trust Bank now owns 69,097 shares of the home improvement retailer’s stock worth $19,067,000 after purchasing an additional 3,788 shares in the last quarter. WESTERN FINANCIAL Corp boosted its position in shares of Home Depot by 8.7% in the 3rd quarter. WESTERN FINANCIAL Corp now owns 5,081 shares of the home improvement retailer’s stock worth $1,402,000 after purchasing an additional 408 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Home Depot by 10.3% in the 3rd quarter. Ieq Capital LLC now owns 64,384 shares of the home improvement retailer’s stock worth $17,766,000 after purchasing an additional 6,026 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Home Depot by 5.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 903,131 shares of the home improvement retailer’s stock worth $249,210,000 after purchasing an additional 48,385 shares in the last quarter. Finally, Citizens Business Bank acquired a new stake in shares of Home Depot in the 3rd quarter worth $2,883,000. 68.31% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Home Depot
In other Home Depot news, Director Paula Santilli purchased 1,583 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was purchased at an average price of $315.80 per share, for a total transaction of $499,911.40. Following the purchase, the director now directly owns 1,583 shares in the company, valued at $499,911.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Fahim Siddiqui sold 2,000 shares of Home Depot stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $311.29, for a total value of $622,580.00. Following the completion of the transaction, the executive vice president now owns 3,928 shares in the company, valued at approximately $1,222,747.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paula Santilli acquired 1,583 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were purchased at an average price of $315.80 per share, with a total value of $499,911.40. Following the completion of the purchase, the director now owns 1,583 shares in the company, valued at approximately $499,911.40. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.
Home Depot Stock Performance
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.13. The business had revenue of $38.87 billion during the quarter, compared to analysts’ expectations of $37.96 billion. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.92 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 16.64 EPS for the current year.
Home Depot Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $1.90 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $7.60 annualized dividend and a dividend yield of 2.41%. Home Depot’s dividend payout ratio is presently 45.81%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on HD shares. BNP Paribas cut Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price objective for the company. in a research report on Wednesday, October 19th. Cowen raised their price objective on Home Depot from $350.00 to $379.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 13th. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, November 21st. MKM Partners lowered their price objective on Home Depot from $330.00 to $312.00 in a research report on Wednesday, November 9th. Finally, The Goldman Sachs Group lowered their price target on Home Depot from $366.00 to $329.00 and set a “buy” rating for the company in a research report on Tuesday, November 8th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $341.24.
Home Depot Company Profile
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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