Spinnaker Trust Has $16.02 Million Position in The Home Depot, Inc. $HD

Spinnaker Trust grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.4% during the second quarter, Holdings Channel.com reports. The firm owned 43,685 shares of the home improvement retailer’s stock after acquiring an additional 155 shares during the period. Home Depot accounts for about 1.0% of Spinnaker Trust’s portfolio, making the stock its 22nd largest position. Spinnaker Trust’s holdings in Home Depot were worth $16,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mainstay Capital Management LLC ADV bought a new stake in shares of Home Depot during the second quarter worth $263,000. WealthPlan Investment Management LLC bought a new stake in shares of Home Depot during the second quarter worth $1,149,000. Tower View Wealth Management LLC raised its position in shares of Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after acquiring an additional 671 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Home Depot during the first quarter worth $3,851,000. Finally, Shell Asset Management Co. raised its position in shares of Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after acquiring an additional 15,002 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Insiders own 0.10% of the company’s stock.

Home Depot Trading Down 2.1%

NYSE HD opened at $377.50 on Thursday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The company has a market capitalization of $375.76 billion, a PE ratio of 25.65, a P/E/G ratio of 3.66 and a beta of 1.00. The stock has a 50-day simple moving average of $401.60 and a 200 day simple moving average of $380.30.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period in the previous year, the firm posted $4.60 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HD shares. JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Stifel Nicolaus upped their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. Truist Financial upped their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Wolfe Research assumed coverage on Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective for the company. Finally, Oppenheimer upped their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $434.35.

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.