Sabal Trust CO Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Sabal Trust CO lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,043 shares of the home improvement retailer’s stock after selling 3,497 shares during the period. Home Depot makes up approximately 2.6% of Sabal Trust CO’s portfolio, making the stock its 4th biggest holding. Sabal Trust CO’s holdings in Home Depot were worth $44,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AMF Tjanstepension AB raised its position in Home Depot by 10.8% in the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock worth $69,340,000 after acquiring an additional 16,650 shares during the period. SYM FINANCIAL Corp raised its holdings in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares during the period. Wealth Group Ltd. bought a new stake in shares of Home Depot in the 3rd quarter worth approximately $217,000. Swedbank AB lifted its stake in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Finally, Hamlin Capital Management LLC grew its holdings in Home Depot by 8.9% during the third quarter. Hamlin Capital Management LLC now owns 363,367 shares of the home improvement retailer’s stock valued at $147,236,000 after purchasing an additional 29,558 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Evercore ISI boosted their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial increased their target price on shares of Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $433.44.

Home Depot Price Performance

NYSE HD opened at $393.52 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $390.90 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 4.03 and a beta of 1.05. The stock has a 50-day moving average of $401.23 and a 200 day moving average of $398.48. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.34%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.14%.

Home Depot Company 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.