Coastline Trust Co Trims Stake in The Home Depot, Inc. (NYSE:HD)

Coastline Trust Co lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,630 shares of the home improvement retailer’s stock after selling 225 shares during the quarter. Coastline Trust Co’s holdings in Home Depot were worth $1,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at about $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot in the 4th quarter valued at about $2,212,546,000. Proficio Capital Partners LLC raised its stake in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Vanguard Group Inc. lifted its position in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Finally, APG Asset Management N.V. increased its holdings in shares of Home Depot by 559.5% in the fourth quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer’s stock valued at $387,706,000 after purchasing an additional 875,591 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

HD stock opened at $354.85 on Friday. The stock has a market capitalization of $352.73 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock’s fifty day simple moving average is $369.30 and its 200-day simple moving average is $394.32.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the firm posted $2.82 EPS. The company’s revenue was up 14.1% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Analysts Set New Price Targets

Several brokerages have issued reports on HD. Robert W. Baird dropped their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial cut their price target on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $434.08.

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.