Grove Bank & Trust Acquires 985 Shares of The Home Depot, Inc. (NYSE:HD)

Grove Bank & Trust boosted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,287 shares of the home improvement retailer's stock after purchasing an additional 985 shares during the period. Grove Bank & Trust's holdings in Home Depot were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Group Ltd. grew its holdings in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock worth $219,000 after purchasing an additional 27 shares during the period. Tallon Kerry Patrick purchased a new stake in Home Depot in the fourth quarter worth about $281,000. Capital & Planning LLC grew its holdings in Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer's stock worth $418,000 after purchasing an additional 563 shares during the period. Ironwood Wealth Management LLC. grew its holdings in Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer's stock worth $1,765,000 after purchasing an additional 32 shares during the period. Finally, Brighton Jones LLC grew its holdings in 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 purchasing an additional 7,203 shares during the period. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling at Home Depot

In other 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 completion of the sale, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction 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 the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

Home Depot stock opened at $353.59 on Tuesday. The company's 50-day moving average price is $363.12 and its 200-day moving average price is $381.65. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. 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 company has a market cap of $351.79 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last released 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the prior year, the firm posted $3.63 earnings per share. Home Depot's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.60%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and increased their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Mizuho cut their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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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