BTC Capital Management Inc. Purchases Shares of 14,465 The Home Depot, Inc. (NYSE:HD)

BTC Capital Management Inc. acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,465 shares of the home improvement retailer’s stock, valued at approximately $5,549,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cape Investment Advisory Inc. raised its holdings in Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares during the period. Optas LLC raised its stake in Home Depot by 1.7% during the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. STAR Financial Bank increased its holdings in shares of Home Depot by 0.7% during the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after purchasing an additional 29 shares during the period. Harvest Investment Advisors LLC raised its position in shares of Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after buying an additional 30 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. lifted its stake in shares of Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $355.80 on Friday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a market cap of $352.81 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.44 and a beta of 1.00. The stock’s 50-day moving average price is $337.65 and its two-hundred day moving average price is $352.03.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $3.82 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insider Activity

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HD shares. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Truist Financial decreased their price target on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a report on Tuesday, May 14th. Raymond James reissued a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Finally, Wedbush reaffirmed an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

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.