Plimoth Trust Co. LLC Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Plimoth Trust Co. LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,484 shares of the home improvement retailer’s stock after selling 461 shares during the period. Plimoth Trust Co. LLC’s holdings in Home Depot were worth $3,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MBM Wealth Consultants LLC boosted its position in shares of Home Depot by 1.4% in the 1st quarter. MBM Wealth Consultants LLC now owns 3,777 shares of the home improvement retailer’s stock worth $1,449,000 after buying an additional 51 shares in the last quarter. Saxon Interests Inc. raised its position in Home Depot by 53.5% during the first quarter. Saxon Interests Inc. now owns 5,229 shares of the home improvement retailer’s stock worth $2,006,000 after acquiring an additional 1,823 shares during the last quarter. Naviter Wealth LLC grew its position in shares of Home Depot by 10.9% in the first quarter. Naviter Wealth LLC now owns 7,720 shares of the home improvement retailer’s stock valued at $2,961,000 after purchasing an additional 756 shares during the last quarter. West Oak Capital LLC grew its position in shares of Home Depot by 0.5% in the first quarter. West Oak Capital LLC now owns 9,060 shares of the home improvement retailer’s stock valued at $3,475,000 after purchasing an additional 47 shares during the last quarter. Finally, CAP Partners LLC raised its position in shares of Home Depot by 3.0% during the 1st quarter. CAP Partners LLC now owns 1,146 shares of the home improvement retailer’s stock worth $440,000 after purchasing an additional 33 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Bank of America raised their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Wedbush reiterated an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a report on Friday, May 10th. Raymond James restated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Finally, HSBC dropped their target price on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Stock Performance

Home Depot stock opened at $334.97 on Wednesday. The firm has a market capitalization of $332.16 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock’s 50 day moving average price is $338.51 and its 200 day moving average price is $352.69. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.82 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

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.