Cypress Capital Group Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Cypress Capital Group cut its stake in The Home Depot, Inc. (NYSE:HD) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,769 shares of the home improvement retailer’s stock after selling 33 shares during the quarter. Home Depot comprises about 1.1% of Cypress Capital Group’s portfolio, making the stock its 19th biggest position. Cypress Capital Group’s holdings in Home Depot were worth $10,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new position in Home Depot in the second quarter worth $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth $33,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the 3rd quarter valued at about $46,000. Denver PWM LLC purchased a new stake in Home Depot in the second quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada upped their price target on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, UBS Group raised their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD opened at $399.98 on Thursday. The Home Depot, Inc. has a twelve month low of $302.34 and a twelve month high of $421.56. The firm has a market capitalization of $397.30 billion, a PE ratio of 27.17, a PEG ratio of 2.83 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm’s 50-day moving average price is $401.72 and its 200 day moving average price is $368.01.

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

Home Depot Announces Dividend

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

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.