Stock Yards Bank & Trust Co. Cuts Position in The Home Depot, Inc. (NYSE:HD)

Stock Yards Bank & Trust Co. cut its stake in The Home Depot, Inc. (NYSE:HD) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,176 shares of the home improvement retailer’s stock after selling 13,160 shares during the quarter. Home Depot comprises about 1.7% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 15th biggest position. Stock Yards Bank & Trust Co.’s holdings in Home Depot were worth $46,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HD. Optas LLC grew its holdings in shares of Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC boosted its stake in shares of Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after buying an additional 30 shares during the period. Armstrong Henry H Associates Inc. boosted its stake in shares of Home Depot by 0.3% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares during the period. CGC Financial Services LLC boosted its stake in shares of Home Depot by 4.3% during the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after buying an additional 30 shares during the period. Finally, Independent Investors Inc. boosted its stake in shares of Home Depot by 0.5% during the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after buying an additional 30 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the subject of a number of recent analyst reports. Guggenheim restated a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. Bank of America raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. DA Davidson restated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. Wells Fargo & Company raised their price objective on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, Royal Bank of Canada raised their price objective on shares of Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Trading Up 0.2 %

Shares of Home Depot stock opened at $336.02 on Tuesday. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a market capitalization of $333.00 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.23 and a beta of 0.98. The business has a 50 day moving average price of $366.77 and a 200 day moving average price of $340.19.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.30 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.68%. Home Depot’s payout ratio is 59.60%.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot 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.