New Covenant Trust Company N.A. Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

New Covenant Trust Company N.A. boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 18.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,244 shares of the home improvement retailer’s stock after buying an additional 191 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Home Depot were worth $446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HD. Wealth Group Ltd. boosted its stake in shares of Home Depot by 5.0% during the 4th 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. Ironwood Wealth Management LLC. raised its holdings in shares of Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock worth $1,765,000 after buying an additional 32 shares during the period. Brighton Jones LLC lifted its position in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the last quarter. Snider Financial Group grew its stake in Home Depot by 90.7% in the 4th quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer’s stock worth $559,000 after acquiring an additional 683 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its stake in Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on HD shares. Sanford C. Bernstein reissued a “market perform” rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Truist Financial upped their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating 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 report on Tuesday, May 20th. Wells Fargo & Company dropped their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Finally, Royal Bank Of Canada reduced their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $356.84 on Tuesday. The stock has a market cap of $355.03 billion, a P/E ratio of 24.21, a PEG ratio of 3.32 and a beta of 1.02. 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 company has a 50-day moving average price of $362.65 and a 200 day moving average price of $378.90. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the company posted $3.63 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders 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 dividend yield of 2.58%. The ex-dividend date was Thursday, June 5th. 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.