Zions Bancorporation National Association UT Buys Shares of 8,225 The Home Depot, Inc. (NYSE:HD)

Key Points

• Zions Bancorporation National Association UT acquired a new stake in The Home Depot, purchasing 8,225 shares worth approximately $3.01 million in the first quarter.
• Home Depot reported earnings per share (EPS) of $3.56, missing analysts' expectations of $3.59, while their revenue increased by 9.4% year-over-year.
• The company announced a quarterly dividend of $2.30 per share, representing an annualized dividend of $9.20 and a yield of 2.4%.

Zions Bancorporation National Association UT purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,225 shares of the home improvement retailer's stock, valued at approximately $3,014,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invst LLC grew its stake in shares of Home Depot by 0.4% in the 4th 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. grew its stake in shares of Home Depot by 3.3% in the 1st 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 grew its stake in shares of Home Depot by 1.2% in the 1st 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 grew its stake 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 worth $228,000 after buying an additional 28 shares during the last quarter. Finally, First Interstate Bank grew its stake 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 worth $3,306,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity

In related news, 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 completion of the transaction, the executive vice president owned 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 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 Home Depot stock in a transaction dated Thursday, May 22nd. The stock was 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 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. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HD shares. Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. upped their price objective on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Finally, DA Davidson dropped their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Price Performance

Shares of Home Depot stock traded up $8.54 during trading on Tuesday, reaching $396.07. 2,909,282 shares of the stock traded hands, compared to its average volume of 3,502,985. The company has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 3.69 and a beta of 1.00. The business has a fifty day simple moving average of $368.04 and a two-hundred day simple moving average of $371.78. 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 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 data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

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.