Cadence Bank Acquires 836 Shares of The Home Depot, Inc. (NYSE:HD)

Cadence Bank boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 5.6% in the third quarter, Holdings Channel.com reports. The fund owned 15,678 shares of the home improvement retailer’s stock after buying an additional 836 shares during the quarter. Cadence Bank’s holdings in Home Depot were worth $6,353,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HD. International Assets Investment Management LLC boosted its holdings in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after buying an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after acquiring an additional 1,474,459 shares during the last quarter. FMR LLC grew its holdings in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the period. Swedbank AB bought a new stake in Home Depot in the first quarter valued at approximately $301,364,000. Finally, Sarasin & Partners LLP raised its holdings in Home Depot by 95.2% in the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after purchasing an additional 556,053 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $429.62 on Wednesday. The company has a 50 day moving average of $405.09 and a 200-day moving average of $370.41. The company has a market cap of $426.77 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1-year low of $308.59 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $3.81 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insider Activity

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HD. Sanford C. Bernstein began coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. Royal Bank of Canada increased their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $426.00.

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.