First Western Trust Bank Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• First Western Trust Bank reduced its stake in Home Depot by 5.1%, selling 1,116 shares, and now holds 20,580 shares valued at approximately $7.54 million.
• Analysts are generally optimistic about Home Depot, with seven giving a "hold" rating and twenty issuing "buy" ratings, resulting in a consensus price target of $426.77.
• Home Depot reported a quarterly earnings miss with EPS of $3.56, below the expected $3.59, despite revenue exceeding expectations at $39.86 billion.

First Western Trust Bank cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,580 shares of the home improvement retailer's stock after selling 1,116 shares during the period. Home Depot comprises approximately 0.4% of First Western Trust Bank's portfolio, making the stock its 20th largest position. First Western Trust Bank's holdings in Home Depot were worth $7,542,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Navigoe LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $29,000. Abound Financial LLC acquired a new position in shares of Home Depot in the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC lifted its position in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares during the period. Quarry LP lifted its position in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the period. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% 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 Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 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. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Gordon Haskett lifted their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. DA Davidson lowered their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Seven equities 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Up 0.0%

HD traded up $0.07 during mid-day trading on Monday, reaching $387.92. 2,605,021 shares of the stock were exchanged, compared to its average volume of 3,090,072. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a market capitalization of $385.95 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The company has a 50 day moving average price of $367.64 and a two-hundred day moving average price of $371.97. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

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 analysts' consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

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.