Security National Bank of Sioux City Iowa IA raised its position in The Home Depot, Inc. (NYSE:HD) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,362 shares of the home improvement retailer’s stock after purchasing an additional 365 shares during the quarter. The Home Depot makes up approximately 1.8% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 13th biggest position. Security National Bank of Sioux City Iowa IA’s holdings in The Home Depot were worth $2,247,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Westchester Capital Management Inc. bought a new position in The Home Depot during the fourth quarter worth about $33,000. Bouvel Investment Partners LLC bought a new stake in shares of The Home Depot in the fourth quarter worth $33,000. Winch Advisory Services LLC boosted its position in The Home Depot by 139.6% during the fourth quarter. Winch Advisory Services LLC now owns 127 shares of the home improvement retailer’s stock valued at $34,000 after acquiring an additional 74 shares during the last quarter. Grant Street Asset Management Inc. acquired a new position in shares of The Home Depot during the fourth quarter valued at about $42,000. Finally, Paradigm Strategies in Wealth Management LLC acquired a new stake in shares of The Home Depot in the 1st quarter worth about $52,000. 69.48% of the stock is owned by institutional investors and hedge funds.
HD has been the topic of a number of research reports. Piper Sandler lifted their target price on shares of The Home Depot from $290.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, May 19th. JPMorgan Chase & Co. increased their target price on shares of The Home Depot from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, April 19th. Zelman & Associates lowered shares of The Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday, April 15th. Royal Bank of Canada lifted their target price on shares of The Home Depot from $377.00 to $386.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 19th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of The Home Depot from $288.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, May 4th. Five research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The Home Depot has an average rating of “Buy” and a consensus price target of $325.21.
Shares of HD traded up $1.47 during midday trading on Friday, hitting $309.78. The stock had a trading volume of 93,867 shares, compared to its average volume of 4,362,476. The company’s 50 day moving average is $320.26. The company has a current ratio of 1.11, a quick ratio of 0.41 and a debt-to-equity ratio of 19.85. The stock has a market capitalization of $329.38 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.95 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $234.31 and a 1 year high of $345.69.
The Home Depot (NYSE:HD) last released its quarterly earnings results on Monday, May 17th. The home improvement retailer reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.78. The Home Depot had a net margin of 10.45% and a return on equity of 963.88%. The firm had revenue of $37.50 billion for the quarter, compared to analysts’ expectations of $33.68 billion. During the same quarter last year, the company earned $2.08 EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Home Depot, Inc. will post 13.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, June 3rd will be issued a dividend of $1.65 per share. The ex-dividend date is Wednesday, June 2nd. This represents a $6.60 annualized dividend and a dividend yield of 2.13%. The Home Depot’s payout ratio is currently 54.86%.
The Home Depot declared that its board has authorized a share buyback plan on Thursday, May 20th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The Home Depot Company 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, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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