First Hawaiian Bank Sells 2,879 Shares of The Home Depot, Inc. (NYSE:HD)

First Hawaiian Bank decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 16.2% in the second quarter, Holdings Channel reports. The fund owned 14,867 shares of the home improvement retailer’s stock after selling 2,879 shares during the period. First Hawaiian Bank’s holdings in Home Depot were worth $5,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new position in Home Depot during the 4th quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $27,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $31,000. Gilfoyle & Co LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $35,000. Finally, Burkett Financial Services LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and upped their price objective for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Tuesday, May 14th. Finally, Stifel Nicolaus upped their target price on shares of Home Depot from $374.00 to $380.00 and gave the company a “hold” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $381.40.

Home Depot Price Performance

Shares of HD traded down $3.15 during mid-day trading on Friday, hitting $355.43. 3,764,790 shares of the company traded hands, compared to its average volume of 3,182,945. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The business has a 50-day moving average of $346.18 and a 200 day moving average of $353.44. The stock has a market capitalization of $352.45 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the prior year, the firm earned $3.82 earnings per share. Home Depot’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

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.