Spinnaker Trust Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Spinnaker Trust lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,873 shares of the home improvement retailer’s stock after purchasing an additional 996 shares during the period. Home Depot comprises approximately 1.1% of Spinnaker Trust’s portfolio, making the stock its 20th largest position. Spinnaker Trust’s holdings in Home Depot were worth $15,897,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HD. Optas LLC boosted its stake in shares of Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC boosted its stake in shares of Home Depot by 0.8% in the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. boosted its stake in shares of Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after purchasing an additional 30 shares during the last quarter. CGC Financial Services LLC raised its position in shares of Home Depot by 4.3% in the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after acquiring an additional 30 shares during the period. Finally, Independent Investors Inc. raised its position in shares of Home Depot by 0.5% in the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock valued at $2,097,000 after acquiring an additional 30 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD stock traded up $3.03 during midday trading on Friday, reaching $335.01. 2,464,650 shares of the company were exchanged, compared to its average volume of 3,354,161. 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 business has a 50-day moving average price of $364.77 and a two-hundred day moving average price of $340.68. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a market capitalization of $332.00 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Analysts Set New Price Targets

HD has been the topic of a number of analyst reports. StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their price target on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. HSBC reiterated a “reduce” rating and issued a $323.00 price target on shares of Home Depot in a research report on Wednesday, April 3rd. Truist Financial reiterated a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research report on Wednesday, April 17th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction 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 $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 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.