The Home Depot, Inc. (NYSE:HD) Shares Bought by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group Inc. RI increased its stake in Home Depot by 4.9%, now holding over 103,700 shares valued at approximately $38 million.
• Home Depot reported $3.56 EPS for the last quarter, slightly below analyst expectations, but revenues rose to $39.86 billion, exceeding estimates by $620 million.
• The company announced a quarterly dividend of $2.30 per share, yielding 2.4% annually, with a payout ratio of 62.42%.

Citizens Financial Group Inc. RI raised its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,701 shares of the home improvement retailer's stock after purchasing an additional 4,798 shares during the quarter. Home Depot comprises 0.7% of Citizens Financial Group Inc. RI's investment portfolio, making the stock its 27th biggest position. Citizens Financial Group Inc. RI's holdings in Home Depot were worth $38,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new position in Home Depot in the first quarter valued at about $406,000. Wealth Management Partners LLC lifted its position in Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after buying an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its position in Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after buying an additional 221 shares during the last quarter. ARS Wealth Advisors Group LLC lifted its position in shares of Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after purchasing an additional 239 shares in the last quarter. Finally, Tabor Asset Management LP acquired a new stake in shares of Home Depot during the first quarter worth about $5,886,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE HD opened at $385.23 on Wednesday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. 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 stock has a fifty day moving average price of $366.50 and a 200 day moving average price of $372.80. The company has a market cap of $383.28 billion, a PE ratio of 26.14, a P/E/G ratio of 3.62 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released 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 analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $3.63 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given 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 was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. Truist Financial increased their price target 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. Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Mizuho reduced their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Morgan Stanley reissued an "overweight" rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, DA Davidson reduced their price target on shares of Home Depot from $470.00 to $450.00 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 sale, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

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.

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