OVERSEA CHINESE BANKING Corp Ltd Has $2.60 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Home Depot by 18.6%, selling 1,624 shares and leaving it with a total of 7,092 shares valued at approximately $2.6 million.
• Home Depot reported $39.86 billion in revenue for the most recent quarter, exceeding analyst estimates and reflecting a 9.4% year-over-year increase despite an EPS miss of $3.56 against a consensus of $3.59.
• The company's latest dividend was $2.30 per share, with an annualized yield of 2.5%, while the payout ratio stands at 62.42%.

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 18.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,092 shares of the home improvement retailer's stock after selling 1,624 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Home Depot were worth $2,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westchester Capital Management Inc. increased its stake in Home Depot by 7.5% during the 1st quarter. Westchester Capital Management Inc. now owns 38,320 shares of the home improvement retailer's stock valued at $14,044,000 after purchasing an additional 2,668 shares in the last quarter. Endeavor Private Wealth Inc. increased its holdings in shares of Home Depot by 473.2% during the 1st quarter. Endeavor Private Wealth Inc. now owns 1,777 shares of the home improvement retailer's stock valued at $651,000 after purchasing an additional 1,467 shares in the last quarter. Fiduciary Wealth Partners LLC acquired a new position in shares of Home Depot during the 1st quarter valued at about $121,000. IFG Advisory LLC increased its stake in Home Depot by 4.2% during the first quarter. IFG Advisory LLC now owns 18,940 shares of the home improvement retailer's stock worth $6,941,000 after purchasing an additional 766 shares during the period. Finally, TIAA Trust National Association raised its position in Home Depot by 4.7% in the first quarter. TIAA Trust National Association now owns 97,999 shares of the home improvement retailer's stock worth $35,916,000 after acquiring an additional 4,409 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 0.6%

Shares of HD stock traded up $2.40 during midday trading on Wednesday, reaching $387.81. 535,622 shares of the stock were exchanged, compared to its average volume of 3,512,731. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company's 50 day moving average is $366.50 and its two-hundred day moving average is $372.80. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a market cap of $385.84 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.62 and a beta of 1.00.

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

Home Depot Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on HD. TD Securities lowered Home Depot to a "buy" rating in a report on Monday, June 2nd. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the company an "overweight" rating in a research report on Monday, June 30th. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Royal Bank Of Canada reduced their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This 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 currently owned by corporate insiders.

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.