Canandaigua National Bank & Trust Co. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Canandaigua National Bank & Trust Co. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 14,720 shares of the home improvement retailer’s stock after selling 284 shares during the quarter. Home Depot comprises approximately 0.8% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 26th biggest position. Canandaigua National Bank & Trust Co.’s holdings in Home Depot were worth $5,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cape Investment Advisory Inc. boosted its stake in Home Depot by 1.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after buying an additional 28 shares during the last quarter. Optas LLC raised its position in Home Depot by 1.7% in the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the period. STAR Financial Bank raised its position in Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after purchasing an additional 29 shares during the period. Harvest Investment Advisors LLC raised its position in Home Depot by 0.8% in the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the period. Finally, Armstrong Henry H Associates Inc. raised its position in Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after purchasing an additional 30 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Home Depot stock traded up $3.11 during mid-day trading on Tuesday, hitting $352.61. 1,626,343 shares of the company were exchanged, compared to its average volume of 3,382,212. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The business’s 50 day simple moving average is $337.33 and its two-hundred day simple moving average is $351.54. The company has a market capitalization of $349.65 billion, a P/E ratio of 23.70, a PEG ratio of 2.40 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

HD has been the topic of several research analyst reports. HSBC cut their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. DA Davidson reiterated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. UBS Group cut their price target on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Guggenheim restated a “buy” rating and set a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. Finally, Truist Financial cut their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.46.

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.