The Home Depot, Inc. (NYSE:HD) Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its holdings in The Home Depot, Inc. (NYSE:HD) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,115 shares of the home improvement retailer’s stock after buying an additional 2,544 shares during the period. Home Depot accounts for 1.8% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 10th largest position. Penobscot Investment Management Company Inc.’s holdings in Home Depot were worth $14,942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Northern Trust Corp raised its position in shares of Home Depot by 1.3% in the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after buying an additional 153,141 shares in the last quarter. International Assets Investment Management LLC raised its position in Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares in the last quarter. Jennison Associates LLC raised its position in Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after purchasing an additional 1,207,388 shares in the last quarter. California Public Employees Retirement System raised its position in Home Depot by 11.3% during the third quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after purchasing an additional 346,641 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Home Depot by 0.7% during the third quarter. Stifel Financial Corp now owns 2,483,454 shares of the home improvement retailer’s stock valued at $750,448,000 after purchasing an additional 17,224 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 1.0 %

HD traded down $3.24 during trading on Tuesday, reaching $333.56. 910,035 shares of the stock traded hands, compared to its average volume of 3,315,072. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The stock has a market capitalization of $330.56 billion, a PE ratio of 22.20, a P/E/G ratio of 2.23 and a beta of 0.98. The stock’s 50-day moving average is $364.25 and its 200 day moving average is $341.58. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is currently 59.60%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HD shares. Citigroup boosted their price objective on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Bank of America boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Wedbush boosted their target price on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Mizuho initiated coverage on shares of Home Depot in a research note on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price on the stock. Finally, Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

About Home Depot

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.