Penobscot Investment Management Company Inc. Sells 275 Shares of The Home Depot, Inc. (NYSE:HD)

Penobscot Investment Management Company Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 42,047 shares of the home improvement retailer’s stock after selling 275 shares during the period. Home Depot comprises approximately 1.4% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 17th largest holding. Penobscot Investment Management Company Inc.’s holdings in Home Depot were worth $15,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc raised its holdings in shares of Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the period. Wealth Management Partners LLC raised its holdings in shares of Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after purchasing an additional 36 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares during the period. Disciplined Investors L.L.C. bought a new stake in shares of Home Depot in the 4th quarter valued at about $409,000. Finally, ARS Wealth Advisors Group LLC raised its holdings in shares of Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after purchasing an additional 239 shares during the period. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HD. Jefferies Financial Group dropped their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Stock Performance

NYSE HD opened at $361.96 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $360.12 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 3.43 and a beta of 1.02. The firm’s 50 day simple moving average is $363.10 and its 200 day simple moving average is $378.66. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.63 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. Home Depot’s dividend payout ratio is 62.42%.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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.