The Home Depot, Inc. (NYSE:HD) Shares Sold by Spinnaker Trust

Spinnaker Trust cut its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,530 shares of the home improvement retailer's stock after selling 2,318 shares during the period. Home Depot accounts for about 1.0% of Spinnaker Trust's portfolio, making the stock its 20th largest position. Spinnaker Trust's holdings in Home Depot were worth $15,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC increased its holdings in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV raised its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Norges Bank purchased a new position in Home Depot during the fourth quarter valued at $5,032,910,000. Finally, Capital Research Global Investors grew its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.3%

NYSE:HD opened at $368.36 on Monday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The business has a 50 day simple moving average of $363.55 and a 200 day simple moving average of $377.27. The firm has a market capitalization of $366.49 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.51 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot's payout ratio is 62.42%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Royal Bank Of Canada cut their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Jefferies Financial Group reduced their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Mizuho lowered their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

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.

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