Montecito Bank & Trust Purchases New Shares in The Home Depot, Inc. $HD

Montecito Bank & Trust acquired a new position in The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,818 shares of the home improvement retailer’s stock, valued at approximately $1,547,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. United Bank raised its holdings in Home Depot by 14.9% in the first quarter. United Bank now owns 5,023 shares of the home improvement retailer’s stock valued at $1,841,000 after acquiring an additional 653 shares in the last quarter. Algert Global LLC boosted its stake in Home Depot by 8.1% during the 1st quarter. Algert Global LLC now owns 2,061 shares of the home improvement retailer’s stock valued at $755,000 after acquiring an additional 154 shares during the last quarter. Quantbot Technologies LP acquired a new position in Home Depot during the 1st quarter worth $909,000. Finally, Tradition Wealth Management LLC increased its position in shares of Home Depot by 4.3% in the 1st quarter. Tradition Wealth Management LLC now owns 4,494 shares of the home improvement retailer’s stock worth $1,647,000 after purchasing an additional 187 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HD shares. Morgan Stanley reaffirmed an “outperform” rating on shares of Home Depot in a research report on Wednesday, December 10th. Stifel Nicolaus reduced their target price on Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a report on Monday, December 1st. TD Cowen decreased their target price on Home Depot from $470.00 to $410.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Jefferies Financial Group reissued a “buy” rating and set a $424.00 price target on shares of Home Depot in a research report on Wednesday, December 10th. Finally, UBS Group set a $430.00 price objective on Home Depot in a research note on Wednesday, December 10th. Twenty-one analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $402.07.

Home Depot Trading Down 0.5%

Shares of NYSE HD opened at $354.97 on Friday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75. The company has a market cap of $353.38 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 13.29 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The stock’s 50 day simple moving average is $366.01 and its 200 day simple moving average is $378.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The company had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.Home Depot’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a $2.30 dividend. The ex-dividend date was Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the transaction, the executive vice president owned 12,320 shares in the company, valued at approximately $4,413,763.20. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Angie Brown sold 1,946 shares of Home Depot stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the sale, the executive vice president directly owned 3,941 shares in the company, valued at approximately $1,409,419.83. This trade represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Home Depot Profile

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.