Spinnaker Trust Acquires 996 Shares of The Home Depot, Inc. (NYSE:HD)

Spinnaker Trust raised its holdings in The Home Depot, Inc. (NYSE:HD) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,873 shares of the home improvement retailer’s stock after purchasing an additional 996 shares during the quarter. Home Depot accounts for 1.1% of Spinnaker Trust’s investment portfolio, making the stock its 20th largest position. Spinnaker Trust’s holdings in Home Depot were worth $15,897,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in Home Depot by 1.3% during the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after buying an additional 153,141 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after buying an additional 5,525,791 shares in the last quarter. Jennison Associates LLC grew its holdings in Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after buying an additional 1,207,388 shares in the last quarter. California Public Employees Retirement System grew its holdings in Home Depot by 11.3% during the 3rd quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after buying an additional 346,641 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Home Depot by 0.7% during the 3rd quarter. Stifel Financial Corp now owns 2,483,454 shares of the home improvement retailer’s stock valued at $750,448,000 after buying an additional 17,224 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HD. The Goldman Sachs Group lifted their price target on Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Royal Bank of Canada lifted their price target on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. TD Cowen lifted their price target on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Robert W. Baird reiterated an “outperform” rating and set a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. Finally, Wedbush lifted their price target on Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD traded up $3.03 on Friday, reaching $335.01. 2,464,650 shares of the stock were exchanged, compared to its average volume of 3,354,161. The company’s 50-day moving average price is $364.77 and its 200 day moving average price is $340.68. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The firm has a market capitalization of $332.00 billion, a PE ratio of 22.19, a PEG ratio of 2.22 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

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.