Jacobi Capital Management LLC Has $2.91 Million Position in The Home Depot, Inc. (NYSE:HD)

Jacobi Capital Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 13.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,404 shares of the home improvement retailer’s stock after selling 1,265 shares during the quarter. Jacobi Capital Management LLC’s holdings in Home Depot were worth $2,912,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Home Depot in the 4th quarter valued at $4,311,070,000. International Assets Investment Management LLC increased 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 worth $1,930,104,000 after buying an additional 5,525,791 shares during the last quarter. Jennison Associates LLC raised its holdings 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 buying an additional 1,207,388 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Home Depot by 38.9% during the 4th quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock worth $613,258,000 after acquiring an additional 495,894 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HD. Evercore ISI raised their price objective on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Mizuho initiated coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. TD Cowen dropped their target price on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, HSBC decreased their price target on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $377.46.

Home Depot Price Performance

Shares of HD stock traded up $1.40 during mid-day trading on Tuesday, reaching $333.96. The company’s stock had a trading volume of 1,072,672 shares, compared to its average volume of 3,379,209. The firm’s 50-day moving average is $338.85 and its two-hundred day moving average is $350.38. The company has a market cap of $331.16 billion, a P/E ratio of 22.43, a PEG ratio of 2.25 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. 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 quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.82 earnings per share. On average, research analysts predict that The Home Depot, Inc. will post 15.31 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Home Depot 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.