First Interstate Bank Lowers Position in The Home Depot, Inc. (NYSE:HD)

First Interstate Bank reduced its stake in The Home Depot, Inc. (NYSE:HD) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,382 shares of the home improvement retailer’s stock after selling 241 shares during the period. First Interstate Bank’s holdings in Home Depot were worth $1,865,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Home Depot in the 4th quarter worth $3,740,875,000. Moneta Group Investment Advisors LLC increased its holdings in Home Depot by 105,205.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after buying an additional 10,984,516 shares during the period. International Assets Investment Management LLC lifted its position in Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the period. Imprint Wealth LLC grew its holdings in Home Depot by 30,994.4% during the second quarter. Imprint Wealth LLC now owns 2,413,234 shares of the home improvement retailer’s stock worth $241,323,000 after acquiring an additional 2,405,473 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Home Depot during the 1st quarter valued at approximately $563,524,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $332.83 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The firm has a market cap of $329.84 billion, a PE ratio of 22.04, a P/E/G ratio of 2.23 and a beta of 0.98. The business’s 50-day moving average price is $368.54 and its two-hundred day moving average price is $339.01. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same period last year, the business posted $3.30 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HD shares. Royal Bank of Canada lifted their price target on shares of Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. TD Cowen raised their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Telsey Advisory Group increased their price target on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research note on Monday, April 1st. The Goldman Sachs Group boosted their price objective on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Bank of America increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.