The Home Depot, Inc. (NYSE:HD) Position Increased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,141 shares of the home improvement retailer's stock after buying an additional 894 shares during the quarter. Home Depot makes up approximately 0.4% of First Citizens Bank & Trust Co.'s portfolio, making the stock its 29th largest position. First Citizens Bank & Trust Co.'s holdings in Home Depot were worth $21,675,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Home Depot during the fourth quarter valued at $5,032,910,000. GAMMA Investing LLC boosted its position in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Raymond James Financial Inc. purchased a new position in Home Depot during the 4th quarter valued at about $2,212,546,000. Proficio Capital Partners LLC grew its stake in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $367.45 on Monday. The firm's 50-day moving average is $361.63 and its 200-day moving average is $384.44. The company has a market cap of $365.59 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results 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). The firm 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%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

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

Analyst Upgrades and Downgrades

HD has been the subject of several research reports. TD Securities cut shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Wells Fargo & Company cut their target price on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Truist Financial lifted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Gordon Haskett upped their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Royal Bank of Canada cut their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $426.77.

Insider Buying and Selling

In other news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This 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 Home Depot stock in a transaction dated 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 sale, the executive vice president now owns 17,367 shares in the company, valued at approximately $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. 0.10% of the stock is owned by company insiders.

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.

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