Spinnaker Trust Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Spinnaker Trust cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,904 shares of the home improvement retailer’s stock after selling 33 shares during the period. Home Depot accounts for 1.1% of Spinnaker Trust’s portfolio, making the stock its 18th biggest position. Spinnaker Trust’s holdings in Home Depot were worth $18,600,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the period. Wulff Hansen & CO. increased its stake in shares of Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot during the first quarter valued at approximately $513,016,000. Price T Rowe Associates Inc. MD grew its stake in shares of Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Finally, Swedbank AB bought a new position in Home Depot during the 1st quarter valued at approximately $301,364,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

NYSE HD opened at $388.19 on Thursday. The company’s 50 day moving average is $393.80 and its two-hundred day moving average is $363.10. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a market cap of $385.59 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.74 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.32%. Home Depot’s payout ratio is 60.57%.

Analyst Upgrades and Downgrades

Several research firms have commented on HD. Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $416.37.

Home Depot 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.