First Interstate Bank Has $3.63 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

First Interstate Bank increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 74.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,951 shares of the home improvement retailer’s stock after purchasing an additional 3,812 shares during the quarter. First Interstate Bank’s holdings in Home Depot were worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HD. Texas Capital Bank Wealth Management Services Inc increased its position in Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares during the last quarter. Pegasus Asset Management Inc. boosted its stake in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its stake in shares of Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after purchasing an additional 965 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $392.59 on Friday. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The firm has a fifty day simple moving average of $392.51 and a 200 day simple moving average of $361.82. The stock has a market capitalization of $389.96 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.73 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the firm posted $4.65 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HD. Evercore ISI reduced their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. DA Davidson raised their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $413.48.

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.