Sandy Spring Bank Sells 1,386 Shares of The Home Depot, Inc. (NYSE:HD)

Sandy Spring Bank lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,677 shares of the home improvement retailer’s stock after selling 1,386 shares during the quarter. Home Depot makes up approximately 0.8% of Sandy Spring Bank’s holdings, making the stock its 26th biggest holding. Sandy Spring Bank’s holdings in Home Depot were worth $18,935,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Royal London Asset Management Ltd. lifted its position in Home Depot by 1.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 630,519 shares of the home improvement retailer’s stock valued at $245,266,000 after purchasing an additional 8,330 shares during the period. Next Capital Management LLC lifted its position in Home Depot by 2.0% during the 4th quarter. Next Capital Management LLC now owns 2,233 shares of the home improvement retailer’s stock valued at $869,000 after purchasing an additional 44 shares during the period. First Financial Bankshares Inc lifted its position in Home Depot by 0.5% during the 4th quarter. First Financial Bankshares Inc now owns 124,480 shares of the home improvement retailer’s stock valued at $48,421,000 after purchasing an additional 647 shares during the period. Generali Investments Management Co LLC acquired a new position in Home Depot during the 4th quarter valued at about $4,498,000. Finally, GM Advisory Group LLC lifted its position in Home Depot by 8.3% during the 4th quarter. GM Advisory Group LLC now owns 5,928 shares of the home improvement retailer’s stock valued at $2,306,000 after purchasing an additional 454 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $353.35 on Thursday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a 50 day moving average of $395.36 and a 200-day moving average of $399.08. The stock has a market capitalization of $351.01 billion, a P/E ratio of 24.00, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the business earned $2.82 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Robert W. Baird cut their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

About Home Depot

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.