SouthState Corp Has $21.23 Million Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• SouthState Corp increased its stake in The Home Depot by 2.4%, owning 57,932 shares valued at approximately $21.2 million, representing about 1.0% of its investment portfolio.
• Home Depot reported $3.56 earnings per share for the last quarter, slightly missing analysts' expectations, but achieved a revenue of $39.86 billion, exceeding estimates.
• The company announced a quarterly dividend of $2.30 per share, yielding 2.4%, with a payout ratio of 62.42%, highlighting its ongoing commitment to shareholder returns.

SouthState Corp grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,932 shares of the home improvement retailer's stock after purchasing an additional 1,385 shares during the period. Home Depot comprises approximately 1.0% of SouthState Corp's investment portfolio, making the stock its 26th biggest holding. SouthState Corp's holdings in Home Depot were worth $21,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Invst LLC increased its holdings in Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after buying an additional 28 shares during the last quarter. Financial Insights Inc. increased its holdings in 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 buying an additional 28 shares during the last quarter. Wayfinding Financial LLC increased its holdings in 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 buying an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC increased its holdings in Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares during the last quarter. Finally, First Interstate Bank increased its holdings in Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock worth $3,306,000 after buying an additional 28 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 of the company's stock, valued at $2,919,130.14. This trade represents 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 corporate insiders.

Home Depot Price Performance

HD traded up $6.88 on Tuesday, hitting $394.41. 443,873 shares of the stock were exchanged, compared to its average volume of 3,487,328. The firm has a market capitalization of $392.41 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 3.69 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The business has a 50-day moving average of $368.04 and a two-hundred day moving average of $371.78.

Home Depot (NYSE:HD - Get Free Report) last posted its 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). The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $3.63 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio is 62.42%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. DA Davidson decreased their price objective on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Robert W. Baird decreased their price objective on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. Seven 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's stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Company 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.