Lcnb Corp Acquires 865 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Lcnb Corp increased its stake in The Home Depot by 31.2%, acquiring a total of 3,640 shares valued at approximately $1.33 million.
• The stock currently has an average rating of "Moderate Buy" from analysts, with an average target price of $426.77.
• Home Depot reported a miss in earnings per share for the latest quarter, posting $3.56 compared to the expected $3.59, despite revenue exceeding estimates at $39.86 billion.

Lcnb Corp lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 31.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,640 shares of the home improvement retailer's stock after purchasing an additional 865 shares during the period. Lcnb Corp's holdings in Home Depot were worth $1,334,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Invst LLC grew its position in Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after acquiring an additional 28 shares in the last quarter. Financial Insights Inc. increased its position in shares of Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC increased its position in shares of Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after purchasing an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC increased its position in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after acquiring an additional 28 shares during the period. Finally, First Interstate Bank increased its position in shares of Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after acquiring an additional 28 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Home Depot stock traded up $0.07 during mid-day trading on Monday, reaching $387.92. The company had a trading volume of 2,605,021 shares, compared to its average volume of 3,090,072. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The firm has a market cap of $385.95 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a 50 day moving average of $367.64 and a 200-day moving average of $371.97.

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 for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. 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 payout ratio is currently 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Mizuho dropped their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Gordon Haskett lifted their target price on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Finally, Truist Financial lifted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.