Citizens & Northern Corp Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Citizens & Northern Corp trimmed its position in The Home Depot, Inc. (NYSE:HD) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,657 shares of the home improvement retailer’s stock after selling 108 shares during the quarter. Home Depot makes up 0.7% of Citizens & Northern Corp’s investment portfolio, making the stock its 25th largest position. Citizens & Northern Corp’s holdings in Home Depot were worth $2,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Group Ltd. increased its stake in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares during the period. Sollinda Capital Management LLC grew its holdings in Home Depot by 2.5% in the 4th quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer’s stock valued at $434,000 after buying an additional 27 shares in the last quarter. Hurlow Wealth Management Group Inc. increased its position in Home Depot by 1.3% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer’s stock worth $831,000 after buying an additional 27 shares during the period. Invst LLC lifted its holdings in shares of 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 in the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC grew its stake in shares of Home Depot by 2.0% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 1,484 shares of the home improvement retailer’s stock valued at $577,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.7%

Shares of NYSE:HD opened at $346.41 on Friday. The stock has a market cap of $344.65 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.30 and a beta of 1.02. The business’s 50 day moving average is $362.72 and its 200 day moving average is $380.63. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

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 242.51% and a net margin of 8.98%. 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. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.66%. Home Depot’s dividend payout ratio is presently 62.42%.

Analyst Ratings Changes

Several brokerages have weighed in on HD. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Wells Fargo & Company lowered their target price on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group reduced their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Transactions at Home Depot

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