Cypress Asset Management Inc. TX Invests $6.42 Million in The Home Depot, Inc. (NYSE:HD)

Cypress Asset Management Inc. TX bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,531 shares of the home improvement retailer’s stock, valued at approximately $6,422,000. Home Depot makes up approximately 1.9% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. DORVAL Corp bought a new position in Home Depot in the fourth quarter worth $264,000. SageView Advisory Group LLC increased its stake in shares of Home Depot by 28.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,312 shares of the home improvement retailer’s stock worth $9,039,000 after acquiring an additional 5,600 shares in the last quarter. FineMark National Bank & Trust lifted its position in Home Depot by 0.7% during the 4th quarter. FineMark National Bank & Trust now owns 89,866 shares of the home improvement retailer’s stock valued at $31,143,000 after acquiring an additional 618 shares during the period. Hohimer Wealth Management LLC boosted its stake in Home Depot by 1.2% during the fourth quarter. Hohimer Wealth Management LLC now owns 13,614 shares of the home improvement retailer’s stock worth $4,718,000 after acquiring an additional 165 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Home Depot by 0.3% in the fourth quarter. US Bancorp DE now owns 1,394,131 shares of the home improvement retailer’s stock worth $483,140,000 after purchasing an additional 4,368 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group cut their price target on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Truist Financial reduced their price objective on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Tuesday, May 14th. The Goldman Sachs Group boosted their price objective on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.46.

Home Depot Price Performance

Shares of NYSE HD traded down $3.70 during midday trading on Thursday, reaching $326.89. The stock had a trading volume of 3,562,590 shares, compared to its average volume of 3,397,238. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The stock has a 50-day moving average of $352.48 and a 200-day moving average of $347.49. The company has a market capitalization of $323.95 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $3.82 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.31 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $9.00 annualized dividend and a yield of 2.75%. Home Depot’s payout ratio is 60.36%.

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.