Farmers Trust Co. reduced its holdings in shares of Home Depot Inc (NYSE:HD) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 26,615 shares of the home improvement retailer’s stock after selling 467 shares during the period. Home Depot comprises about 1.5% of Farmers Trust Co.’s investment portfolio, making the stock its 18th biggest position. Farmers Trust Co.’s holdings in Home Depot were worth $5,812,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of HD. Enterprise Trust & Investment Co bought a new position in Home Depot during the third quarter valued at approximately $27,000. Belmont Capital LLC bought a new position in Home Depot during the fourth quarter valued at approximately $28,000. Julex Capital Management LLC bought a new position in Home Depot during the third quarter valued at approximately $29,000. Proffitt & Goodson Inc. grew its position in Home Depot by 106.2% during the third quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock valued at $31,000 after acquiring an additional 69 shares during the last quarter. Finally, Financial Advantage Inc. bought a new position in Home Depot during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 69.87% of the company’s stock.
Shares of HD stock opened at $224.59 on Thursday. The stock has a fifty day moving average of $218.89 and a 200 day moving average of $222.23. Home Depot Inc has a 52 week low of $172.00 and a 52 week high of $239.31. The firm has a market capitalization of $243.05 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.97 and a beta of 1.00.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, December 4th. Home Depot’s payout ratio is 55.01%.
A number of research analysts have commented on the stock. Bank of America reiterated a “hold” rating and set a $235.00 price target on shares of Home Depot in a research report on Wednesday, November 20th. Edward Jones lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada dropped their price objective on Home Depot from $246.00 to $232.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Credit Suisse Group raised Home Depot from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $225.00 to $235.00 in a research note on Thursday, December 12th. Finally, Wolfe Research began coverage on Home Depot in a research note on Tuesday, October 8th. They set a “buy” rating and a $260.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $237.31.
In other Home Depot news, EVP Teresa Wynn Roseborough sold 12,974 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $213.70, for a total transaction of $2,772,543.80. Following the completion of the transaction, the executive vice president now owns 26,335 shares of the company’s stock, valued at $5,627,789.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Craig A. Menear sold 113,468 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $211.24, for a total value of $23,968,980.32. Following the transaction, the chief executive officer now directly owns 277,604 shares of the company’s stock, valued at approximately $58,641,068.96. The disclosure for this sale can be found here. Insiders sold 126,552 shares of company stock valued at $26,765,281 in the last ninety days. 0.27% of the stock is currently owned by insiders.
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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