FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 359 Shares of The Home Depot, Inc. (NYSE:HD)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its position in The Home Depot, Inc. (NYSE:HD) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,452 shares of the home improvement retailer’s stock after selling 359 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Home Depot were worth $1,708,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new stake in Home Depot during the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $27,000. Keener Financial Planning LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC grew its stake in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the period. Finally, Gilfoyle & Co LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $35,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on HD. Citigroup decreased their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. HSBC reduced their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company reduced their price objective on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Truist Financial reduced their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Evercore ISI raised their price objective on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Insider Buying and Selling at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Home Depot stock traded down $2.05 during mid-day trading on Tuesday, reaching $334.14. 544,148 shares of the company’s stock were exchanged, compared to its average volume of 3,437,094. The business’s fifty day simple moving average is $338.51 and its 200 day simple moving average is $352.80. The firm has a market capitalization of $331.34 billion, a PE ratio of 22.46, a P/E/G ratio of 2.38 and a beta of 0.99. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.82 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. Home Depot’s payout ratio is presently 60.36%.

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.