Independence Bank of Kentucky Has $7.03 Million Stake in The Home Depot, Inc. (NYSE:HD)

Independence Bank of Kentucky grew its holdings in The Home Depot, Inc. (NYSE:HD) by 88.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,064 shares of the home improvement retailer’s stock after purchasing an additional 8,456 shares during the quarter. Home Depot comprises about 1.1% of Independence Bank of Kentucky’s investment portfolio, making the stock its 15th largest position. Independence Bank of Kentucky’s holdings in Home Depot were worth $7,027,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. OFC Financial Planning LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $536,000. SeaBridge Investment Advisors LLC increased its stake in shares of Home Depot by 4.1% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 15,421 shares of the home improvement retailer’s stock valued at $5,999,000 after buying an additional 604 shares during the period. Blossom Wealth Management raised its position in shares of Home Depot by 3.5% during the fourth quarter. Blossom Wealth Management now owns 2,223 shares of the home improvement retailer’s stock worth $865,000 after acquiring an additional 76 shares during the last quarter. KG&L Capital Management LLC lifted its stake in shares of Home Depot by 23.7% during the fourth quarter. KG&L Capital Management LLC now owns 6,447 shares of the home improvement retailer’s stock valued at $2,508,000 after acquiring an additional 1,235 shares during the period. Finally, Dohj LLC boosted its holdings in Home Depot by 25.9% in the fourth quarter. Dohj LLC now owns 6,303 shares of the home improvement retailer’s stock valued at $2,452,000 after acquiring an additional 1,297 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $411.86 on Monday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company’s fifty day simple moving average is $407.86 and its 200-day simple moving average is $392.62. The firm has a market cap of $409.13 billion, a PE ratio of 27.98, a P/E/G ratio of 4.35 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Analyst Ratings Changes

A number of research firms have issued reports on HD. Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley lifted their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

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.