Cypress Capital Group Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Cypress Capital Group reduced its stake in The Home Depot, Inc. (NYSE:HD) by 0.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,769 shares of the home improvement retailer’s stock after selling 33 shares during the period. Home Depot accounts for 1.1% of Cypress Capital Group’s portfolio, making the stock its 19th biggest position. Cypress Capital Group’s holdings in Home Depot were worth $10,036,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Abacus Wealth Partners LLC boosted its position in shares of Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares in the last quarter. Capital City Trust Co. FL grew its stake in shares of Home Depot by 1.1% in the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares during the period. Ruedi Wealth Management Inc. raised its holdings in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares in the last quarter. Finally, Acorn Creek Capital LLC lifted its position in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $399.98 on Thursday. The firm’s 50 day simple moving average is $401.72 and its 200 day simple moving average is $368.01. The Home Depot, Inc. has a fifty-two week low of $302.34 and a fifty-two week high of $421.56. The company has a market capitalization of $397.30 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HD shares. Wells Fargo & Company increased their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. DA Davidson upped their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Piper Sandler boosted their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.00.

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.