Coastline Trust Co Sells 2,855 Shares of The Home Depot, Inc. (NYSE:HD)

Coastline Trust Co lessened its stake in The Home Depot, Inc. (NYSE:HD) by 42.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,855 shares of the home improvement retailer’s stock after selling 2,855 shares during the period. Coastline Trust Co’s holdings in Home Depot were worth $1,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Northcape Wealth Management LLC increased its position in shares of Home Depot by 0.8% during the third quarter. Northcape Wealth Management LLC now owns 7,486 shares of the home improvement retailer’s stock worth $3,033,000 after buying an additional 61 shares during the period. Insight 2811 Inc. bought a new stake in Home Depot during the third quarter valued at $208,000. Empirical Finance LLC grew its holdings in Home Depot by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 35,045 shares of the home improvement retailer’s stock worth $14,200,000 after acquiring an additional 662 shares during the period. CIBC Asset Management Inc raised its position in shares of Home Depot by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 193,416 shares of the home improvement retailer’s stock worth $78,372,000 after acquiring an additional 10,566 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in shares of Home Depot by 3.1% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 49,196 shares of the home improvement retailer’s stock valued at $19,934,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Truist Financial lifted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday. DA Davidson boosted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The shares were 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 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 at the SEC website. 0.10% of the stock is owned by company insiders.

Home Depot Stock Up 0.6 %

Shares of NYSE:HD opened at $408.25 on Friday. The Home Depot, Inc. has a 1 year low of $302.34 and a 1 year high of $421.56. The company has a market capitalization of $405.51 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The business has a fifty day moving average price of $399.51 and a two-hundred day moving average price of $366.34. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during 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 firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.81 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.06 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

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.