Home Depot Inc (NYSE:HD) Shares Bought by Cigna Investments Inc. New

Cigna Investments Inc. New lifted its position in shares of Home Depot Inc (NYSE:HD) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,902 shares of the home improvement retailer’s stock after buying an additional 1,822 shares during the period. Home Depot makes up about 0.8% of Cigna Investments Inc. New’s holdings, making the stock its 21st biggest holding. Cigna Investments Inc. New’s holdings in Home Depot were worth $5,957,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HD. Geode Capital Management LLC boosted its position in Home Depot by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 16,765,579 shares of the home improvement retailer’s stock worth $3,655,255,000 after purchasing an additional 586,305 shares during the period. Norges Bank purchased a new position in Home Depot in the 4th quarter valued at about $2,558,090,000. Bank of New York Mellon Corp boosted its position in Home Depot by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 10,051,038 shares of the home improvement retailer’s stock valued at $1,876,628,000 after buying an additional 303,357 shares during the last quarter. Alliancebernstein L.P. boosted its position in Home Depot by 2.1% in the 4th quarter. Alliancebernstein L.P. now owns 8,914,267 shares of the home improvement retailer’s stock valued at $1,946,698,000 after buying an additional 179,597 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Home Depot by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,569,932 shares of the home improvement retailer’s stock valued at $1,653,122,000 after buying an additional 399,725 shares during the last quarter. Institutional investors and hedge funds own 69.75% of the company’s stock.

Shares of NYSE:HD traded up $1.00 during trading hours on Friday, hitting $241.88. The stock had a trading volume of 3,041,253 shares, compared to its average volume of 5,876,560. The stock’s fifty day simple moving average is $213.77 and its 200 day simple moving average is $219.47. Home Depot Inc has a 1-year low of $140.63 and a 1-year high of $248.32. The firm has a market capitalization of $258.73 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.22 and a beta of 1.03.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.19). Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The firm had revenue of $28.26 billion during the quarter, compared to analyst estimates of $27.59 billion. During the same quarter in the previous year, the business posted $2.27 EPS. Home Depot’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Home Depot Inc will post 9.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Home Depot’s payout ratio is currently 58.54%.

HD has been the subject of a number of analyst reports. Gordon Haskett cut shares of Home Depot from an “accumulate” rating to a “hold” rating in a research report on Wednesday, April 22nd. CSFB upped their price objective on shares of Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital upped their price objective on shares of Home Depot from $235.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler upped their price objective on shares of Home Depot from $231.00 to $236.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. Finally, Wells Fargo & Co upped their price objective on shares of Home Depot from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot currently has a consensus rating of “Buy” and a consensus price target of $251.03.

In other news, EVP William G. Lennie sold 9,848 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $234.34, for a total value of $2,307,780.32. Following the completion of the transaction, the executive vice president now directly owns 37,995 shares in the company, valued at $8,903,748.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William G. Lennie sold 17,993 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the completion of the transaction, the executive vice president now owns 54,405 shares of the company’s stock, valued at $12,840,668.10. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Home Depot Profile

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Further Reading: Market Timing

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

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