TIAA Trust National Association Increases Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• TIAA Trust National Association increased its holdings in Home Depot by 4.7% during the first quarter, owning nearly 98,000 shares valued at approximately $35.9 million.
• Home Depot reported quarterly earnings of $3.56 per share, slightly below analysts' estimates, but revenue increased by 9.4% year-over-year to $39.86 billion.
• The company declared a quarterly dividend of $2.30, representing an annualized yield of 2.5% and a payout ratio of 62.42%.

TIAA Trust National Association increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,999 shares of the home improvement retailer's stock after acquiring an additional 4,409 shares during the period. TIAA Trust National Association's holdings in Home Depot were worth $35,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new position in shares of Home Depot during the first quarter valued at $31,000. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares during the last quarter. Quarry LP raised its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of NYSE HD traded up $7.32 during midday trading on Monday, hitting $380.98. The company's stock had a trading volume of 2,843,316 shares, compared to its average volume of 3,228,696. The stock has a fifty day moving average price of $365.84 and a 200 day moving average price of $372.91. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. 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 firm has a market capitalization of $379.05 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 3.55 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 (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $3.63 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

Insider Buying and Selling

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 sale, 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 position. The transaction was disclosed in a legal filing 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 completion of the transaction, the executive vice president directly owned 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. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HD shares. Robert W. Baird dropped their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Truist Financial lifted their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Jefferies Financial Group lowered their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Morgan Stanley reissued an "overweight" rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment 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. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price 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.