Commerce Bank Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Commerce Bank trimmed its position in The Home Depot, Inc. (NYSE:HD) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 246,179 shares of the home improvement retailer’s stock after selling 2,985 shares during the quarter. Commerce Bank’s holdings in Home Depot were worth $85,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HD. Bare Financial Services Inc bought a new position in shares of Home Depot in the 4th quarter worth $26,000. Keener Financial Planning LLC purchased a new stake in Home Depot during the fourth quarter valued at about $31,000. PFG Private Wealth Management LLC lifted its stake in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Gilfoyle & Co LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $35,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Home Depot during the 3rd quarter valued at about $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on HD shares. UBS Group cut their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Robert W. Baird reiterated an “outperform” rating and issued a $370.00 target price on shares of Home Depot in a research report on Wednesday, February 14th. The Goldman Sachs Group upped their price target on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Truist Financial decreased their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Stifel Nicolaus increased their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $377.46.

Home Depot Stock Performance

NYSE:HD traded down $3.45 on Thursday, hitting $327.14. The stock had a trading volume of 1,723,809 shares, compared to its average volume of 3,377,578. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The stock has a market cap of $324.20 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The business’s 50-day simple moving average is $352.48 and its two-hundred day simple moving average is $347.49.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.82 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.31 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, May 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.