Sara Bay Financial Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Sara Bay Financial reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,754 shares of the home improvement retailer’s stock after selling 165 shares during the quarter. Home Depot accounts for approximately 0.6% of Sara Bay Financial’s portfolio, making the stock its 20th largest holding. Sara Bay Financial’s holdings in Home Depot were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Home Depot by 4.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 15,398 shares of the home improvement retailer’s stock worth $5,336,000 after buying an additional 617 shares during the period. Redhawk Wealth Advisors Inc. grew its position in Home Depot by 11.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,533 shares of the home improvement retailer’s stock worth $1,224,000 after buying an additional 359 shares during the period. Bellwether Advisors LLC grew its position in Home Depot by 9.5% during the fourth quarter. Bellwether Advisors LLC now owns 6,411 shares of the home improvement retailer’s stock worth $2,222,000 after buying an additional 554 shares during the period. Advisor Resource Council acquired a new position in Home Depot during the fourth quarter worth about $2,452,000. Finally, Fortitude Family Office LLC acquired a new position in Home Depot during the fourth quarter worth about $813,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Home Depot Trading Down 1.2 %

Shares of NYSE:HD opened at $390.28 on Friday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a market cap of $386.78 billion, a PE ratio of 25.85, a P/E/G ratio of 2.61 and a beta of 0.99. The company’s 50-day moving average price is $366.18 and its 200 day moving average price is $332.94. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same period in the previous year, the firm earned $3.30 EPS. Home Depot’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.39 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HD shares. Truist Financial lowered their price target on shares of Home Depot from $387.00 to $386.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Citigroup raised their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Mizuho initiated coverage on shares of Home Depot in a research report on Tuesday. They set a “buy” rating and a $415.00 target price on the stock. Guggenheim raised their target price on shares of Home Depot from $370.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Oppenheimer downgraded 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 assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $366.76.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. 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.