CNB Bank Trims Holdings in The Home Depot, Inc. (NYSE:HD)

CNB Bank trimmed its position in The Home Depot, Inc. (NYSE:HD) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,223 shares of the home improvement retailer’s stock after selling 47 shares during the quarter. Home Depot comprises approximately 1.3% of CNB Bank’s holdings, making the stock its 16th biggest position. CNB Bank’s holdings in Home Depot were worth $2,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the 3rd quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the 3rd quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot during the 2nd quarter valued at approximately $47,000. Quarry LP grew its holdings in Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after buying an additional 36 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its holdings in Home Depot by 111.3% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock valued at $53,000 after buying an additional 79 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD stock opened at $409.42 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business’s fifty day simple moving average is $406.51 and its two-hundred day simple moving average is $387.45. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market cap of $406.70 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.11 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the firm posted $3.81 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s dividend payout ratio is currently 61.14%.

Wall Street Analyst Weigh In

HD has been the subject of a number of research analyst reports. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Home Depot Company 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.