The Home Depot, Inc. (NYSE:HD) is Sanibel Captiva Trust Company Inc.’s 6th Largest Position

Sanibel Captiva Trust Company Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 247,775 shares of the home improvement retailer’s stock after selling 2,607 shares during the period. Home Depot accounts for about 3.0% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 6th biggest position. Sanibel Captiva Trust Company Inc.’s holdings in Home Depot were worth $90,807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Geode Capital Management LLC grew its stake in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after buying an additional 257,036 shares during the last quarter. Norges Bank bought a new position in Home Depot in the 4th quarter worth $5,032,910,000. Capital Research Global Investors boosted its holdings in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp grew its position in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird decreased their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Morgan Stanley restated an “overweight” rating and issued a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Buying and Selling

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Down 0.6%

NYSE:HD opened at $365.20 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a 50-day moving average of $361.51 and a 200 day moving average of $384.05. The firm has a market cap of $363.35 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the previous year, the company earned $3.63 EPS. The company’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

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.