Pinnacle Bank cut its holdings in shares of Home Depot Inc (NYSE:HD) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,471 shares of the home improvement retailer’s stock after selling 110 shares during the period. Pinnacle Bank’s holdings in Home Depot were worth $619,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Your Advocates Ltd. LLP acquired a new stake in Home Depot in the first quarter worth about $27,000. Lion Street Advisors LLC purchased a new position in shares of Home Depot in the 1st quarter valued at approximately $28,000. Cordasco Financial Network boosted its stake in Home Depot by 120.5% in the 1st quarter. Cordasco Financial Network now owns 247 shares of the home improvement retailer’s stock worth $46,000 after purchasing an additional 135 shares in the last quarter. Danda Trouve Investment Management Inc. grew its position in Home Depot by 960.0% during the 1st quarter. Danda Trouve Investment Management Inc. now owns 265 shares of the home improvement retailer’s stock worth $49,000 after purchasing an additional 240 shares during the last quarter. Finally, HighMark Wealth Management LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $58,000. 69.85% of the stock is owned by hedge funds and other institutional investors.
In other Home Depot news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $236.02, for a total value of $4,246,707.86. Following the transaction, the executive vice president now owns 54,405 shares in the company, valued at approximately $12,840,668.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.
A number of equities analysts recently issued reports on HD shares. Jefferies Financial Group raised their target price on Home Depot from $228.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. CSFB upped their target price on Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Wells Fargo & Co raised their price target on shares of Home Depot from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Telsey Advisory Group upped their price objective on shares of Home Depot from $220.00 to $250.00 and gave the company a “market perform” rating in a report on Wednesday, May 20th. Finally, Nomura Instinet raised their target price on shares of Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $254.83.
Shares of HD traded down $1.57 during mid-day trading on Tuesday, hitting $247.98. 1,341,801 shares of the company were exchanged, compared to its average volume of 4,346,747. Home Depot Inc has a 1-year low of $140.63 and a 1-year high of $259.29. The company has a 50 day moving average of $246.67 and a 200-day moving average of $224.74. The stock has a market cap of $269.05 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.06.
Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The firm had revenue of $28.26 billion for the quarter, compared to analysts’ expectations of $27.59 billion. During the same quarter last year, the firm posted $2.27 earnings per share. Home Depot’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Home Depot Inc will post 9.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, June 3rd. Home Depot’s payout ratio is 58.54%.
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, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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