The Home Depot, Inc. (NYSE:HD) Shares Bought by Country Trust Bank

Country Trust Bank grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,051 shares of the home improvement retailer’s stock after acquiring an additional 100 shares during the period. Country Trust Bank’s holdings in Home Depot were worth $426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $33,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot during the 1st quarter worth approximately $38,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 4th quarter worth approximately $39,000. Finally, Denver PWM LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 1.5 %

Shares of Home Depot stock opened at $414.23 on Wednesday. The company has a fifty day moving average price of $374.21 and a 200 day moving average price of $356.13. 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 twelve month low of $274.26 and a twelve month high of $415.29. The stock has a market cap of $410.76 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

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, topping 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 firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the company earned $4.65 EPS. The firm’s revenue was up .6% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. Royal Bank of Canada dropped their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. Truist Financial lowered their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus lowered their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $398.54.

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.