Bangor Savings Bank Sells 33 Shares of The Home Depot, Inc. (NYSE:HD)

Bangor Savings Bank cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% during the 1st quarter, Holdings Channel reports. The firm owned 3,547 shares of the home improvement retailer’s stock after selling 33 shares during the period. Bangor Savings Bank’s holdings in Home Depot were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HD. Bare Financial Services Inc purchased a new position in Home Depot during the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot in the 4th quarter worth $27,000. Keener Financial Planning LLC bought a new position in shares of Home Depot in the 4th quarter worth $31,000. PFG Private Wealth Management LLC grew its holdings in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Home Depot during the 4th quarter valued at $35,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock traded up $2.36 during trading hours on Friday, hitting $355.80. The stock had a trading volume of 6,596,539 shares, compared to its average volume of 3,061,367. The firm has a market capitalization of $352.81 billion, a PE ratio of 23.86, a PEG ratio of 2.44 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock’s 50 day moving average is $337.65 and its 200 day moving average is $352.23. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last released its quarterly 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 business had revenue of $36.42 billion during 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 company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.82 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.28 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, June 13th. Stockholders of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup dropped their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. 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. Wedbush reiterated an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. HSBC dropped their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. Finally, Evercore ISI lifted their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.46.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction 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 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 at this link. Company insiders own 0.10% of the company’s stock.

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.