STAR Financial Bank Sells 422 Shares of The Home Depot, Inc. (NYSE:HD)

STAR Financial Bank lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 12.8% in the third quarter, Holdings Channel.com reports. The fund owned 2,878 shares of the home improvement retailer’s stock after selling 422 shares during the period. STAR Financial Bank’s holdings in Home Depot were worth $1,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc boosted its position in shares of Home Depot by 27.6% during the second 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 buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. raised its stake in Home Depot by 1.8% during 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 period. Swedbank AB grew its holdings in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. LGT Group Foundation increased its position in shares of Home Depot by 121.0% during the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after purchasing an additional 147,482 shares during the last quarter. Finally, CX Institutional increased its position in shares of Home Depot by 225.6% during the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after purchasing an additional 22,668 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $399.98 on Thursday. The Home Depot, Inc. has a 12 month low of $302.34 and a 12 month high of $421.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $397.30 billion, a PE ratio of 27.17, a P/E/G ratio of 2.83 and a beta of 1.01. The company’s 50 day simple moving average is $401.72 and its 200 day simple moving average is $368.01.

Home Depot (NYSE:HD) last posted 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the business earned $3.81 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot 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 sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HD. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.