Sabal Trust CO lessened its stake in shares of Home Depot Inc (NYSE:HD) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,997 shares of the home improvement retailer’s stock after selling 7,511 shares during the period. Home Depot accounts for approximately 3.0% of Sabal Trust CO’s investment portfolio, making the stock its 3rd biggest position. Sabal Trust CO’s holdings in Home Depot were worth $34,713,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Vanguard Group Inc. raised its holdings in Home Depot by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after acquiring an additional 5,714,595 shares during the last quarter. Capital Research Global Investors raised its holdings in Home Depot by 28.6% in the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock valued at $3,934,286,000 after acquiring an additional 4,690,072 shares during the last quarter. FMR LLC raised its holdings in Home Depot by 2.4% in the 2nd quarter. FMR LLC now owns 19,084,248 shares of the home improvement retailer’s stock valued at $4,780,796,000 after acquiring an additional 441,321 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Home Depot by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,095,006 shares of the home improvement retailer’s stock valued at $2,528,899,000 after acquiring an additional 43,968 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Home Depot by 2.4% in the 1st quarter. Morgan Stanley now owns 9,255,927 shares of the home improvement retailer’s stock valued at $1,728,173,000 after acquiring an additional 216,078 shares during the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.
In other news, EVP Matt Carey sold 13,680 shares of the firm’s stock in a transaction on Sunday, August 16th. The shares were sold at an average price of $194.35, for a total value of $2,658,708.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 41,947 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.83, for a total transaction of $11,738,029.01. Insiders sold a total of 119,304 shares of company stock valued at $32,088,591 in the last three months. 0.26% of the stock is currently owned by corporate insiders.
A number of analysts have commented on the stock. Truist Financial increased their price objective on shares of Home Depot from $240.00 to $300.00 in a report on Wednesday, August 12th. Gordon Haskett upgraded shares of Home Depot from a “hold” rating to an “accumulate” rating and set a $306.00 price objective for the company in a report on Wednesday, August 12th. Goldman Sachs Group raised their price target on shares of Home Depot from $265.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Bank of America upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and raised their price target for the stock from $290.00 to $330.00 in a report on Wednesday, August 19th. Finally, Wells Fargo & Company raised their price target on shares of Home Depot from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $288.79.
Shares of HD stock opened at $287.66 on Friday. Home Depot Inc has a 52 week low of $140.63 and a 52 week high of $292.95. The stock has a market capitalization of $309.65 billion, a PE ratio of 26.37, a P/E/G ratio of 2.38 and a beta of 1.09. The firm has a 50 day moving average of $278.34 and a two-hundred day moving average of $251.27.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.82. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company had revenue of $38.05 billion during the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter last year, the company posted $3.17 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year. On average, sell-side analysts predict that Home Depot Inc will post 11.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were given a $1.50 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $6.00 annualized dividend and a yield of 2.09%. Home Depot’s dividend payout ratio is presently 58.54%.
Home Depot Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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