Norway Savings Bank Sells 408 Shares of The Home Depot, Inc. (NYSE:HD)

Norway Savings Bank decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,775 shares of the home improvement retailer’s stock after selling 408 shares during the period. Norway Savings Bank’s holdings in Home Depot were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. grew its position in Home Depot by 1.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares during the last quarter. Optas LLC boosted its stake in shares of Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares in the last quarter. STAR Financial Bank grew its holdings in shares of Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC increased its stake in shares of Home Depot by 0.8% in the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after buying an additional 30 shares during the period. Finally, Armstrong Henry H Associates Inc. raised its holdings in Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after buying an additional 30 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HD shares. Bank of America upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Guggenheim reaffirmed a “buy” rating and set a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Citigroup reduced their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Evercore ISI raised their price objective on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Finally, Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $378.42.

Home Depot Trading Up 0.8 %

HD opened at $344.24 on Friday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm has a market capitalization of $341.35 billion, a PE ratio of 23.09, a P/E/G ratio of 2.36 and a beta of 1.00. 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 company’s 50-day moving average is $338.51 and its 200 day moving average is $352.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same quarter last year, the company earned $3.82 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.61%. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by insiders.

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.