Canandaigua National Bank & Trust Co. Sells 105 Shares of The Home Depot, Inc. (NYSE:HD)

Canandaigua National Bank & Trust Co. reduced its position in The Home Depot, Inc. (NYSE:HD) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,366 shares of the home improvement retailer’s stock after selling 105 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Home Depot were worth $5,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Home Depot in the third quarter worth $41,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the third quarter worth $46,000. Strategic Investment Solutions Inc. IL bought a new position in Home Depot during the second quarter valued at $47,000. Finally, Quarry LP raised its stake in shares of Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after acquiring an additional 36 shares during the period. 70.86% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 over the last three months. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Stifel Nicolaus boosted their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Guggenheim boosted their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

Shares of NYSE HD traded down $0.20 during midday trading on Monday, reaching $388.98. 3,089,626 shares of the stock were exchanged, compared to its average volume of 2,338,175. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a 50-day simple moving average of $406.94 and a two-hundred day simple moving average of $384.58. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market cap of $386.40 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.90 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the company earned $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

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

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.