Sunbelt Securities Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Sunbelt Securities Inc. lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,157 shares of the home improvement retailer’s stock after selling 148 shares during the period. Sunbelt Securities Inc.’s holdings in Home Depot were worth $2,495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HD. Fairway Wealth LLC purchased a new stake in Home Depot during the second quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the 2nd quarter worth approximately $33,000. Denver PWM LLC bought a new stake in Home Depot in the 2nd quarter worth approximately $40,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the third quarter worth approximately $41,000. Finally, Livelsberger Financial Advisory bought a new position in Home Depot during the third quarter valued at approximately $46,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $422.57 on Wednesday. The company has a market capitalization of $419.76 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a 50 day moving average of $411.09 and a 200 day moving average of $376.09.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 EPS. Home Depot’s revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Sanford C. Bernstein began coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

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.