The Home Depot, Inc. (NYSE:HD) Shares Acquired by SouthState Corp

SouthState Corp lifted its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 1.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 55,987 shares of the home improvement retailer’s stock after acquiring an additional 1,049 shares during the period. Home Depot accounts for about 1.3% of SouthState Corp’s investment portfolio, making the stock its 18th largest holding. SouthState Corp’s holdings in Home Depot were worth $16,759,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HD. Shore Point Advisors LLC acquired a new position in Home Depot in the fourth quarter valued at $26,000. Rinkey Investments acquired a new position in Home Depot in the fourth quarter valued at $25,000. Barnett & Company Inc. boosted its holdings in Home Depot by 173.1% in the fourth quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 45 shares during the last quarter. Tobam acquired a new position in Home Depot in the first quarter valued at $27,000. Finally, Fairfield Bush & CO. acquired a new position in Home Depot in the first quarter valued at $27,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Jefferies Financial Group reduced their target price on Home Depot from $420.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 18th. DA Davidson dropped their target price on Home Depot from $354.00 to $330.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Piper Sandler lifted their target price on Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 18th. Morgan Stanley lowered their price objective on Home Depot from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $368.45.

Home Depot Stock Up 0.3 %

Shares of NYSE:HD opened at $307.17 on Friday. The company’s fifty day moving average is $290.88 and its two-hundred day moving average is $311.12. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61. The company has a market cap of $315.70 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.60%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $36.78 billion. During the same period in the prior year, the business posted $3.86 earnings per share. Home Depot’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 16.39 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, June 1st. Home Depot’s dividend payout ratio is presently 48.25%.

Insider Buying and Selling

In related news, EVP Hector A. Padilla sold 136 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the completion of the sale, the executive vice president now directly owns 11,230 shares in the company, valued at $3,248,052.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Home Depot news, EVP Hector A. Padilla sold 136 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $289.23, for a total transaction of $39,335.28. Following the completion of the sale, the executive vice president now directly owns 11,230 shares in the company, valued at $3,248,052.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 11,293 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the sale, the executive vice president now owns 51,175 shares of the company’s stock, valued at $14,739,935.25. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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