Community Bank of Raymore Trims Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Community Bank of Raymore reduced its stake in Home Depot by 10.9% in the first quarter, holding 5,997 shares valued at approximately $2.2 million.
• Home Depot recently reported a quarterly earnings per share (EPS) of $3.56, missing estimates by $0.03, while its revenue was up 9.4% year over year at $39.86 billion.
• The company announced a $2.30 quarterly dividend, reflecting a yield of 2.3% with a payout ratio of 62.42% for its investors.

Community Bank of Raymore reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,997 shares of the home improvement retailer's stock after selling 735 shares during the quarter. Home Depot accounts for 1.8% of Community Bank of Raymore's holdings, making the stock its 19th largest position. Community Bank of Raymore's holdings in Home Depot were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after acquiring an additional 565 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Home Depot by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 1,148 shares of the home improvement retailer's stock worth $447,000 after acquiring an additional 57 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Home Depot by 44.0% in the fourth quarter. Guggenheim Capital LLC now owns 84,704 shares of the home improvement retailer's stock worth $32,949,000 after acquiring an additional 25,890 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its stake in shares of Home Depot by 12.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 3,117 shares of the home improvement retailer's stock worth $1,212,000 after acquiring an additional 337 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE HD opened at $396.07 on Wednesday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a market capitalization of $394.06 billion, a P/E ratio of 26.87, a PEG ratio of 3.68 and a beta of 1.00. The business has a 50 day moving average price of $368.49 and a 200 day moving average price of $371.95. 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 posted its quarterly earnings data 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the business earned $3.63 EPS. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Truist Financial lifted their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Mizuho lowered their price target 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. TD Securities lowered Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Monday, June 30th. Seven research 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 data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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.

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