Central Pacific Bank Trust Division Reduces Position in The Home Depot, Inc. (NYSE:HD)

Central Pacific Bank Trust Division decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,174 shares of the home improvement retailer's stock after selling 766 shares during the period. Central Pacific Bank Trust Division's holdings in Home Depot were worth $3,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Synergy Asset Management LLC bought a new position in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the 4th quarter valued at approximately $28,000. Navigoe LLC bought a new position in Home Depot during the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the 4th quarter valued at approximately $32,000. Finally, Quarry LP increased its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

Home Depot stock traded down $0.44 during trading on Friday, reaching $367.85. The company had a trading volume of 4,110,311 shares, compared to its average volume of 3,424,960. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm's 50-day simple moving average is $360.92 and its 200 day simple moving average is $386.04. The firm has a market capitalization of $365.65 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.93 and a 52 week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.63 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. Home Depot's dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HD. TD Securities reaffirmed a "buy" rating and set a $470.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. 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 report on Tuesday, May 20th. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Wells Fargo & Company cut their target price on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot 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.