Somerset Trust Co cut its position in shares of Home Depot Inc (NYSE:HD) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,942 shares of the home improvement retailer’s stock after selling 1,023 shares during the quarter. Home Depot accounts for about 1.6% of Somerset Trust Co’s investment portfolio, making the stock its 14th largest holding. Somerset Trust Co’s holdings in Home Depot were worth $2,915,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Summit Trail Advisors LLC lifted its stake in Home Depot by 17,627.8% in the first quarter. Summit Trail Advisors LLC now owns 2,233,171 shares of the home improvement retailer’s stock valued at $2,233,000 after buying an additional 2,220,574 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Home Depot by 46.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,059,019 shares of the home improvement retailer’s stock valued at $769,306,000 after buying an additional 1,279,244 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Home Depot by 17.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,919,857 shares of the home improvement retailer’s stock valued at $1,121,990,000 after buying an additional 899,399 shares during the last quarter. Natixis lifted its stake in Home Depot by 153.0% in the first quarter. Natixis now owns 1,064,144 shares of the home improvement retailer’s stock valued at $189,673,000 after buying an additional 643,600 shares during the last quarter. Finally, Swedbank bought a new stake in Home Depot in the fourth quarter valued at $120,600,000. Hedge funds and other institutional investors own 68.47% of the company’s stock.
A number of equities research analysts have issued reports on the company. Loop Capital set a $187.00 target price on Home Depot and gave the company a “hold” rating in a research note on Tuesday, May 15th. Deutsche Bank set a $210.00 target price on Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. Citigroup reiterated a “buy” rating and issued a $227.00 target price on shares of Home Depot in a research note on Wednesday, August 15th. Credit Suisse Group set a $222.00 target price on Home Depot and gave the company a “buy” rating in a research note on Monday, May 14th. Finally, Wells Fargo & Co set a $205.00 target price on Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. Seven analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Home Depot currently has an average rating of “Buy” and an average price target of $204.96.
In related news, EVP William G. Lennie sold 10,854 shares of Home Depot stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the transaction, the executive vice president now directly owns 40,057 shares of the company’s stock, valued at $8,077,093.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Matt Carey sold 4,125 shares of Home Depot stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $195.43, for a total value of $806,148.75. Following the transaction, the executive vice president now directly owns 60,179 shares in the company, valued at $11,760,781.97. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Shares of HD opened at $205.89 on Friday. The firm has a market cap of $233.58 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.37 and a debt-to-equity ratio of 11.60. Home Depot Inc has a one year low of $156.22 and a one year high of $207.60.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.21. The firm had revenue of $30.46 billion for the quarter, compared to analyst estimates of $30.04 billion. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. Home Depot’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. sell-side analysts anticipate that Home Depot Inc will post 9.58 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 30th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, August 29th. Home Depot’s payout ratio is currently 55.23%.
About Home Depot
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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