Sawgrass Asset Management LLC Sells 1,174 Shares of The Home Depot, Inc. (NYSE:HD)

Sawgrass Asset Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 39,566 shares of the home improvement retailer’s stock after selling 1,174 shares during the period. Home Depot comprises 1.5% of Sawgrass Asset Management LLC’s holdings, making the stock its 18th largest position. Sawgrass Asset Management LLC’s holdings in Home Depot were worth $13,712,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HD. Tcwp LLC grew its stake in Home Depot by 0.7% in the 3rd quarter. Tcwp LLC now owns 6,409 shares of the home improvement retailer’s stock valued at $1,937,000 after buying an additional 44 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Home Depot by 16.9% during the third quarter. J.W. Cole Advisors Inc. now owns 18,032 shares of the home improvement retailer’s stock worth $5,449,000 after purchasing an additional 2,605 shares during the period. Affinity Wealth Management LLC boosted its stake in Home Depot by 1.6% in the 3rd quarter. Affinity Wealth Management LLC now owns 17,166 shares of the home improvement retailer’s stock valued at $5,187,000 after purchasing an additional 278 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of Home Depot during the third quarter worth $457,000. Finally, Channel Wealth LLC grew its stake in shares of Home Depot by 2.4% in the third quarter. Channel Wealth LLC now owns 4,365 shares of the home improvement retailer’s stock valued at $1,319,000 after acquiring an additional 104 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.6 %

NYSE:HD traded down $1.99 during trading hours on Wednesday, hitting $338.70. 3,122,850 shares of the company were exchanged, compared to its average volume of 3,338,355. The company has a fifty day simple moving average of $360.47 and a 200 day simple moving average of $343.54. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock has a market capitalization of $335.66 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last posted 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. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given 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 yield of 2.66%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is 59.60%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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 is available through this link. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Wells Fargo & Company lifted their price objective on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Evercore ISI decreased their price target on Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. HSBC reaffirmed a “reduce” rating and set a $323.00 price objective on shares of Home Depot in a research report on Wednesday, April 3rd. Finally, DA Davidson restated a “neutral” rating and issued a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $375.19.

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.