Central Pacific Bank Trust Division Sells 766 Shares of The Home Depot, Inc. (NYSE:HD)

Central Pacific Bank Trust Division lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 9,174 shares of the home improvement retailer’s stock after selling 766 shares during the period. Central Pacific Bank Trust Division’s holdings in Home Depot were worth $3,362,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the fourth quarter worth $28,000. Navigoe LLC bought a new position in Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the fourth quarter worth $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.0%

Home Depot stock opened at $368.08 on Friday. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The stock has a market cap of $365.88 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm’s 50-day simple moving average is $360.78 and its 200 day simple moving average is $386.29. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its quarterly earnings results 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter last year, the firm posted $3.63 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HD shares. 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 note on Wednesday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. DA Davidson decreased their price target on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $426.77.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s 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 transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated 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 now owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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.