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

Canandaigua National Bank & Trust Co. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 0.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,366 shares of the home improvement retailer’s stock after selling 105 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Home Depot were worth $5,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in Home Depot during the second quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL acquired a new position in Home Depot in the second quarter valued at approximately $47,000. Finally, Quarry LP grew its position in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Oppenheimer upped their target price on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. TD Cowen lifted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Barclays upped their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

Shares of HD stock traded down $0.20 during trading hours on Monday, hitting $388.98. The stock had a trading volume of 3,089,626 shares, compared to its average volume of 2,338,175. The stock’s 50 day moving average is $406.94 and its 200 day moving average is $384.58. The firm has a market capitalization of $386.40 billion, a PE ratio of 26.43, a PEG ratio of 2.90 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same period last year, the firm posted $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

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.