Central Pacific Bank Trust Division Has $3.87 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Central Pacific Bank Trust Division raised its position in The Home Depot, Inc. (NYSE:HD) by 56.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,940 shares of the home improvement retailer’s stock after purchasing an additional 3,567 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Home Depot were worth $3,867,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares during the period. Pegasus Asset Management Inc. grew its stake in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares during the last quarter. Swedbank AB raised its stake in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. LGT Group Foundation boosted its holdings in shares of Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after acquiring an additional 147,482 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Home Depot by 14.3% during the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after acquiring an additional 84,062 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HD. Royal Bank of Canada raised their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Guggenheim boosted their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Truist Financial raised their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

NYSE:HD traded up $0.56 during mid-day trading on Friday, hitting $389.02. The stock had a trading volume of 960,711 shares, compared to its average volume of 1,676,004. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company’s 50 day simple moving average is $407.14 and its 200 day simple moving average is $383.88. The stock has a market cap of $386.44 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.90 and a beta of 1.03. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

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.