Farmers National Bank Grows Holdings in The Home Depot, Inc. (NYSE:HD)

Farmers National Bank grew its stake in The Home Depot, Inc. (NYSE:HD) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,537 shares of the home improvement retailer’s stock after purchasing an additional 137 shares during the quarter. Home Depot comprises about 2.4% of Farmers National Bank’s holdings, making the stock its 8th biggest holding. Farmers National Bank’s holdings in Home Depot were worth $8,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ruedi Wealth Management Inc. increased its holdings in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC increased its holdings in shares of Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the period. Talisman Wealth Advisors LLC raised its position in shares of Home Depot by 1.2% in the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after acquiring an additional 29 shares in the last quarter. LMG Wealth Partners LLC raised its position in shares of Home Depot by 1.7% in the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock worth $588,000 after acquiring an additional 29 shares in the last quarter. Finally, Opes Wealth Management LLC lifted its stake in shares of Home Depot by 5.2% during the 2nd quarter. Opes Wealth Management LLC now owns 591 shares of the home improvement retailer’s stock worth $203,000 after purchasing an additional 29 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE HD opened at $409.21 on Wednesday. The company has a 50 day simple moving average of $369.92 and a two-hundred day simple moving average of $355.36. The stock has a market cap of $405.78 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.71 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $410.56.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s payout ratio is 60.36%.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Melius Research began coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Loop Capital increased their target price on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Truist Financial reduced their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.08.

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.