First City Capital Management Inc. Raises Stake in The Home Depot, Inc. (NYSE:HD)

First City Capital Management Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 46.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,434 shares of the home improvement retailer's stock after acquiring an additional 8,108 shares during the period. Home Depot makes up 5.3% of First City Capital Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. First City Capital Management Inc.'s holdings in Home Depot were worth $10,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of HD. Fifth Third Wealth Advisors LLC grew its holdings in Home Depot by 54.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 32,880 shares of the home improvement retailer's stock valued at $13,323,000 after purchasing an additional 11,572 shares during the last quarter. Wrapmanager Inc. boosted its stake in shares of Home Depot by 4.8% during the 3rd quarter. Wrapmanager Inc. now owns 5,716 shares of the home improvement retailer's stock worth $2,316,000 after purchasing an additional 260 shares during the last quarter. BIP Wealth LLC grew its holdings in shares of Home Depot by 9.4% during the third quarter. BIP Wealth LLC now owns 19,135 shares of the home improvement retailer's stock worth $7,754,000 after buying an additional 1,647 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of Home Depot by 2.3% in the third quarter. Prospera Financial Services Inc now owns 45,747 shares of the home improvement retailer's stock valued at $18,554,000 after buying an additional 1,007 shares during the last quarter. Finally, Smead Capital Management Inc. lifted its stake in shares of Home Depot by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 516,204 shares of the home improvement retailer's stock worth $209,166,000 after purchasing an additional 17,416 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research reports. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. UBS Group lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased 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. Piper Sandler lifted their target price 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. Finally, DA Davidson increased their price target on Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $426.00.

Home Depot Price Performance

HD traded down $3.03 during midday trading on Tuesday, reaching $407.41. 1,663,891 shares of the company's stock were exchanged, compared to its average volume of 3,373,842. The Home Depot, Inc. has a one year low of $302.34 and a one year high of $421.56. The firm has a market capitalization of $404.68 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The business has a 50-day simple moving average of $400.41 and a two-hundred day simple moving average of $367.33. 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 - Get Free Report) last issued its quarterly earnings data 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 net margin of 9.45% and a return on equity of 452.60%. 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 prior year, the firm earned $3.81 earnings per share. The company's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot's dividend payout ratio is currently 61.14%.

About Home Depot

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.