Citizens Financial Group Inc. RI Acquires 7,712 Shares of The Home Depot, Inc. (NYSE:HD)

Citizens Financial Group Inc. RI grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,695 shares of the home improvement retailer’s stock after buying an additional 7,712 shares during the quarter. Home Depot accounts for about 0.8% of Citizens Financial Group Inc. RI’s holdings, making the stock its 24th biggest position. Citizens Financial Group Inc. RI’s holdings in Home Depot were worth $40,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $33,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter worth approximately $46,000. Denver PWM LLC purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of 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 valued at $48,000 after acquiring an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 1.7 %

NYSE HD opened at $399.98 on Thursday. The business’s 50-day moving average is $401.72 and its 200 day moving average is $368.01. The stock 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 debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $302.34 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $3.81 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America lifted their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada lifted their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Morgan Stanley boosted their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Truist Financial raised their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, 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. Corporate insiders own 0.10% of the company’s stock.

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.