Sippican Capital Advisors Grows Stake in The Home Depot, Inc. (NYSE:HD)

Sippican Capital Advisors grew its holdings in The Home Depot, Inc. (NYSE:HD) by 39.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,312 shares of the home improvement retailer’s stock after buying an additional 650 shares during the quarter. Sippican Capital Advisors’ holdings in Home Depot were worth $801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Morgan Stanley raised its position in shares of Home Depot by 10.0% in the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after acquiring an additional 1,698,402 shares in the last quarter. Northern Trust Corp raised its position in shares of Home Depot by 1.3% in the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. Norges Bank bought a new position in shares of Home Depot in the 4th quarter worth approximately $3,740,875,000. Moneta Group Investment Advisors LLC raised its position in shares of Home Depot by 105,205.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after acquiring an additional 10,984,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot 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 sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $334.83 on Wednesday. The company has a market capitalization of $331.82 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The business’s fifty day moving average is $369.14 and its 200 day moving average is $339.05. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion for 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 business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.30 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

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

Wall Street Analyst Weigh In

HD has been the subject of a number of analyst reports. Mizuho initiated coverage on Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price objective for the company. TD Cowen raised their price objective on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Evercore ISI reduced their price objective on Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective 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 given a buy rating to the company. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $375.96.

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.