Sawgrass Asset Management LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Sawgrass Asset Management LLC trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,566 shares of the home improvement retailer’s stock after selling 1,174 shares during the quarter. Home Depot comprises 1.5% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 18th biggest holding. Sawgrass Asset Management LLC’s holdings in Home Depot were worth $13,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Barlow Wealth Partners Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $247,000. Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Home Depot in the 4th quarter worth approximately $1,131,000. Sovereign Financial Group Inc. increased its stake in Home Depot by 6.3% in the 4th quarter. Sovereign Financial Group Inc. now owns 3,006 shares of the home improvement retailer’s stock valued at $1,042,000 after purchasing an additional 177 shares in the last quarter. Simmons Bank raised its holdings in Home Depot by 2.2% during the fourth quarter. Simmons Bank now owns 31,137 shares of the home improvement retailer’s stock worth $10,791,000 after purchasing an additional 677 shares during the last quarter. Finally, Centric Wealth Management boosted its position in Home Depot by 19.8% during the fourth quarter. Centric Wealth Management now owns 2,078 shares of the home improvement retailer’s stock worth $738,000 after purchasing an additional 344 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.6 %

NYSE HD traded down $1.99 during trading hours on Wednesday, reaching $338.70. 3,122,850 shares of the company traded hands, compared to its average volume of 3,338,355. The stock has a market capitalization of $335.66 billion, a PE ratio of 22.43, a PEG ratio of 2.28 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a 50 day moving average of $360.47 and a two-hundred day moving average of $343.54.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.66%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HD shares. Evercore ISI dropped their price objective on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their target price on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Robert W. Baird restated an “outperform” rating and set a $370.00 target price on shares of Home Depot in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group increased their price target on Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $375.19.

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.