Bank of Stockton Trims Stake in Home Depot Inc (HD)

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Bank of Stockton lowered its holdings in shares of Home Depot Inc (NYSE:HD) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 15,975 shares of the home improvement retailer’s stock after selling 310 shares during the quarter. Home Depot makes up approximately 1.7% of Bank of Stockton’s investment portfolio, making the stock its 12th largest position. Bank of Stockton’s holdings in Home Depot were worth $2,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ironwood Financial llc increased its holdings in Home Depot by 39.5% in the 4th quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock worth $49,000 after acquiring an additional 81 shares in the last quarter. Avondale Wealth Management increased its holdings in Home Depot by 52.4% in the 4th quarter. Avondale Wealth Management now owns 349 shares of the home improvement retailer’s stock worth $60,000 after acquiring an additional 120 shares in the last quarter. Fusion Family Wealth LLC increased its holdings in Home Depot by 43.6% in the 4th quarter. Fusion Family Wealth LLC now owns 405 shares of the home improvement retailer’s stock worth $70,000 after acquiring an additional 123 shares in the last quarter. Horan Securities Inc. increased its holdings in Home Depot by 44.0% in the 4th quarter. Horan Securities Inc. now owns 540 shares of the home improvement retailer’s stock worth $97,000 after acquiring an additional 165 shares in the last quarter. Finally, Highwater Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $124,000. 70.88% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on HD. Zacks Investment Research raised shares of Home Depot from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Monday, December 31st. Telsey Advisory Group lowered shares of Home Depot from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $205.00 to $192.00 in a report on Wednesday, February 27th. Bank of America reaffirmed a “neutral” rating and set a $202.00 price objective on shares of Home Depot in a report on Thursday, April 11th. Credit Suisse Group set a $194.00 price objective on shares of Home Depot and gave the company a “hold” rating in a report on Tuesday, February 26th. Finally, Evercore ISI began coverage on shares of Home Depot in a report on Wednesday, March 20th. They set an “outperform” rating and a $215.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Home Depot currently has an average rating of “Buy” and an average target price of $204.47.

In related news, EVP Ann Marie Campbell sold 5,450 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the sale, the executive vice president now directly owns 51,030 shares in the company, valued at $9,423,710.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Edward P. Decker sold 23,744 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the completion of the sale, the executive vice president now owns 86,813 shares of the company’s stock, valued at $15,880,702.09. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock valued at $7,553,141 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

NYSE HD opened at $205.66 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. The company has a market cap of $228.01 billion, a PE ratio of 20.79, a PEG ratio of 1.78 and a beta of 1.09. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.09. The firm had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. On average, sell-side analysts expect that Home Depot Inc will post 10.09 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.36 per share. This is an increase from Home Depot’s previous quarterly dividend of $1.03. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Wednesday, March 13th. Home Depot’s dividend payout ratio is currently 55.01%.

Home Depot announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Home Depot Company 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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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