Community Bank N.A. Sells 457 Shares of The Home Depot, Inc. (NYSE:HD)

Community Bank N.A. reduced its position in The Home Depot, Inc. (NYSE:HD) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,566 shares of the home improvement retailer’s stock after selling 457 shares during the quarter. Community Bank N.A.’s holdings in Home Depot were worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter worth $41,000. Finally, Marshall Investment Management LLC acquired a new position in Home Depot during the fourth quarter worth $41,000. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company raised their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Down 1.0 %

Shares of Home Depot stock opened at $352.12 on Friday. The business’s 50 day simple moving average is $393.97 and its 200 day simple moving average is $398.90. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market cap of $349.78 billion, a PE ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 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 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.61%. Home Depot’s payout ratio is 61.66%.

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.