Commerzbank Aktiengesellschaft FI Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,407 shares of the home improvement retailer’s stock after buying an additional 11,458 shares during the period. Home Depot accounts for about 1.7% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 22nd biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Home Depot were worth $71,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Navigoe LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at $29,000. Abound Financial LLC acquired a new position in shares of Home Depot in the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 46 shares during the period. Quarry LP increased its position in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new stake in Home Depot during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Wells Fargo & Company set a $420.00 price target on shares of Home Depot and gave the company an “overweight” rating in a research note on Monday, June 30th. 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. Piper Sandler decreased their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 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 the 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 directly owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Down 0.4%

Home Depot stock opened at $357.22 on Thursday. The firm has a 50 day moving average price of $366.20 and a 200 day moving average price of $374.90. The company has a market capitalization of $355.40 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS 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 analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.58%. Home Depot’s payout ratio is 62.42%.

Home Depot Company 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.