Montecito Bank & Trust Has $2.20 Million Stake in The Home Depot, Inc. (NYSE:HD)

Montecito Bank & Trust boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,657 shares of the home improvement retailer’s stock after buying an additional 450 shares during the period. Montecito Bank & Trust’s holdings in Home Depot were worth $2,201,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Home Depot during the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter valued at approximately $41,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot in the 3rd quarter worth approximately $46,000. Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot during the 2nd quarter valued at $47,000. Finally, Quarry LP raised its position in Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 0.0 %

Home Depot stock opened at $414.53 on Friday. The company has a market cap of $411.77 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 4.32 and a beta of 1.05. The firm has a 50-day moving average of $407.14 and a 200-day moving average of $390.16. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.81 earnings per share. On average, equities analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HD shares. Stifel Nicolaus raised their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Truist Financial boosted their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. Morgan Stanley raised their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Mizuho lifted their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Company 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.