The Home Depot, Inc. (NYSE:HD) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp cut its holdings in The Home Depot, Inc. (NYSE:HD) by 0.6% during the fourth quarter, HoldingsChannel reports. The fund owned 6,518 shares of the home improvement retailer’s stock after selling 38 shares during the period. Home Depot comprises 0.8% of Citizens & Northern Corp’s holdings, making the stock its 26th biggest position. Citizens & Northern Corp’s holdings in Home Depot were worth $2,259,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Home Depot during the 4th quarter worth $4,311,070,000. International Assets Investment Management LLC increased its holdings in shares of Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares during the last quarter. Jennison Associates LLC lifted its stake in Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Home Depot in the third quarter valued at approximately $207,210,000. Finally, Envestnet Asset Management Inc. increased its stake in Home Depot by 20.6% in the third quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock valued at $746,003,000 after purchasing an additional 421,619 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HD shares. Robert W. Baird restated an “outperform” rating and issued a $370.00 target price on shares of Home Depot in a report on Wednesday, February 14th. StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Bank of America lifted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group raised their target price on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $377.46.

Insider Buying and Selling at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The stock was 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 directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Home Depot stock traded down $3.89 during mid-day trading on Thursday, reaching $326.70. The company had a trading volume of 1,878,346 shares, compared to its average volume of 3,379,188. The stock’s 50-day simple moving average is $352.48 and its 200-day simple moving average is $347.49. The company has a market capitalization of $323.76 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.32 and a beta of 1.01. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.31 EPS for the current year.

Home Depot Dividend Announcement

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

About Home Depot

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.