Suncoast Equity Management Sells 62,027 Shares of The Home Depot, Inc. (NYSE:HD)

Suncoast Equity Management cut its position in The Home Depot, Inc. (NYSE:HD) by 91.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,449 shares of the home improvement retailer’s stock after selling 62,027 shares during the quarter. Suncoast Equity Management’s holdings in Home Depot were worth $1,888,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley lifted its holdings in Home Depot by 10.0% during the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after purchasing an additional 1,698,402 shares during the last quarter. Northern Trust Corp lifted its holdings in Home Depot by 1.3% during the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after purchasing an additional 153,141 shares during the last quarter. Norges Bank acquired a new stake in Home Depot during the 4th quarter valued at $3,740,875,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after buying an additional 10,984,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after buying an additional 1,361,660 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot 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 transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot 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 transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $334.83 on Wednesday. The stock has a market cap of $331.82 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. 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 stock’s 50-day moving average is $369.14 and its 200-day moving average is $339.05. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87.

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

Home Depot Increases Dividend

The company also recently declared 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. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is 59.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HD shares. Mizuho started coverage on Home Depot in a report on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price for the company. Guggenheim reissued a “buy” rating and set a $390.00 target price on shares of Home Depot in a report on Friday, April 5th. Telsey Advisory Group lifted their target price on Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a report on Monday, April 1st. Citigroup lifted their target price on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Wells Fargo & Company lifted their target price on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $375.96.

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.