First Citizens Bank & Trust Co. Sells 1,724 Shares of The Home Depot, Inc. (NYSE:HD)

First Citizens Bank & Trust Co. lowered its position in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,008 shares of the home improvement retailer’s stock after selling 1,724 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Home Depot were worth $14,558,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after acquiring an additional 1,698,402 shares during the last quarter. Northern Trust Corp increased its holdings in Home Depot by 1.3% in the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after purchasing an additional 153,141 shares during the last quarter. Norges Bank bought a new stake in Home Depot in the fourth quarter valued at about $3,740,875,000. Moneta Group Investment Advisors LLC increased its holdings in Home Depot by 105,205.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after purchasing an additional 10,984,516 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after purchasing an additional 1,361,660 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $363.00 on Wednesday. The stock has a 50 day moving average price of $369.63 and a 200 day moving average price of $335.67. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The stock has a market capitalization of $359.74 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.43 and a beta of 0.98.

Home Depot (NYSE:HDGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the prior year, the firm posted $3.30 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.38 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.48%. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HD. HSBC downgraded Home Depot from a “hold” rating to a “reduce” rating and set a $323.00 price objective for the company. in a report on Wednesday, February 21st. Barclays upgraded Home Depot from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $325.00 to $372.00 in a report on Thursday, January 4th. Citigroup boosted their target price on Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday. Finally, Guggenheim boosted their target price on Home Depot from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.35.

Get Our Latest Analysis on Home Depot

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

About Home Depot

(Free Report)

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 d├ęcor 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.

See Also

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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