Argent Trust Co Boosts Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Argent Trust Co increased its stake in Home Depot by 0.8% to own a total of 99,592 shares, now making it the 11th largest holding in its investment portfolio.
• Home Depot's recent earnings report revealed $3.56 EPS, missing estimates by $0.03, although the company still achieved a revenue of $39.86 billion, exceeding forecasts.
• Multiple analysts have recently upgraded their target prices for Home Depot, with an overall consensus rating of "Moderate Buy" and an average target price of $426.77.

Argent Trust Co increased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,592 shares of the home improvement retailer's stock after purchasing an additional 813 shares during the quarter. Home Depot makes up 1.5% of Argent Trust Co's investment portfolio, making the stock its 11th biggest holding. Argent Trust Co's holdings in Home Depot were worth $36,499,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. L & S Advisors Inc lifted its position in Home Depot by 7.1% in the 1st quarter. L & S Advisors Inc now owns 7,880 shares of the home improvement retailer's stock valued at $2,888,000 after acquiring an additional 523 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Home Depot by 2.5% in the first quarter. Manchester Capital Management LLC now owns 13,652 shares of the home improvement retailer's stock worth $5,003,000 after purchasing an additional 336 shares during the period. Delta Financial Group Inc. raised its position in shares of Home Depot by 11.5% during the 1st quarter. Delta Financial Group Inc. now owns 3,319 shares of the home improvement retailer's stock valued at $1,207,000 after buying an additional 341 shares in the last quarter. Scotia Capital Inc. increased its stake in Home Depot by 5.5% in the first quarter. Scotia Capital Inc. now owns 506,798 shares of the home improvement retailer's stock valued at $185,732,000 after acquiring an additional 26,547 shares during the last quarter. Finally, Cheviot Value Management LLC increased its stake in Home Depot by 8.9% in the first quarter. Cheviot Value Management LLC now owns 1,225 shares of the home improvement retailer's stock valued at $443,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Gordon Haskett raised their price objective on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Truist Financial raised their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. DA Davidson reduced their price objective on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Mizuho reduced their price objective on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Stock Up 1.0%

HD traded up $4.00 on Tuesday, reaching $384.82. 673,825 shares of the company traded hands, compared to its average volume of 3,517,439. The stock's 50 day moving average price is $366.19 and its 200-day moving average price is $372.71. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market cap of $382.86 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.55 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $3.63 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.