Pinnacle Bancorp Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Pinnacle Bancorp Inc. lifted its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,864 shares of the home improvement retailer’s stock after purchasing an additional 51 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Home Depot were worth $683,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Group Ltd. grew its stake in shares of Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after acquiring an additional 27 shares in the last quarter. Sollinda Capital Management LLC boosted its stake in shares of Home Depot by 2.5% during the 4th quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer’s stock worth $434,000 after buying an additional 27 shares during the last quarter. Hurlow Wealth Management Group Inc. grew its stake in Home Depot by 1.3% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer’s stock valued at $831,000 after purchasing an additional 27 shares in the last quarter. Invst LLC boosted its holdings in shares of Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock valued at $2,621,000 after buying an additional 28 shares during the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC grew its position in shares of Home Depot by 2.0% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 1,484 shares of the home improvement retailer’s stock valued at $577,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 1.0%

Shares of NYSE HD opened at $360.53 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The firm has a market cap of $358.70 billion, a PE ratio of 24.46, a P/E/G ratio of 3.39 and a beta of 1.02. The company’s fifty day simple moving average is $362.79 and its 200 day simple moving average is $378.77. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the prior year, the firm earned $3.63 earnings per share. Home Depot’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

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About Home Depot

(Free Report)

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.

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