City Holding Co. Trims Stake in The Home Depot, Inc. (NYSE:HD)

City Holding Co. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,381 shares of the home improvement retailer’s stock after selling 121 shares during the period. Home Depot comprises approximately 1.1% of City Holding Co.’s investment portfolio, making the stock its 19th biggest position. City Holding Co.’s holdings in Home Depot were worth $8,258,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Home Depot by 27.6% during 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 buying an additional 5,879 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after acquiring an additional 1,195 shares in the last quarter. Commonwealth Retirement Investments LLC boosted its holdings in shares of Home Depot by 5.5% in the first 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 period. Leeward Financial Partners LLC grew its stake in Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after purchasing an additional 711 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. purchased a new position in Home Depot during the 4th quarter worth $88,708,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.5 %

Home Depot stock opened at $414.23 on Wednesday. The stock has a 50-day moving average price of $374.21 and a 200 day moving average price of $356.13. The company has a market capitalization of $410.76 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $415.29. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

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

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Wall Street Analyst Weigh In

HD has been the subject of several research reports. Royal Bank of Canada lowered their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Oppenheimer upped their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. DA Davidson raised their target price on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. UBS Group upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler lifted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.54.

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.