Arvest Bank Trust Division Invests $840,000 in The Home Depot, Inc. (NYSE:HD)

Arvest Bank Trust Division acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,072 shares of the home improvement retailer’s stock, valued at approximately $840,000.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Fairway Wealth LLC bought a new position in Home Depot during the 2nd quarter worth about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new position in Home Depot during the second quarter valued at approximately $40,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the third quarter worth approximately $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot during the third quarter worth $46,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. 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. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Bank of America lifted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.1 %

NYSE HD opened at $421.70 on Thursday. The firm has a market cap of $418.90 billion, a PE ratio of 28.63, a P/E/G ratio of 2.98 and a beta of 1.03. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm’s fifty day moving average is $411.56 and its two-hundred day moving average is $377.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction 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 owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction 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 $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. In the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by corporate insiders.

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.