April 22, 2021

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

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Plimoth Trust Co. LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 14,059 shares of the home improvement retailer’s stock after selling 1,271 shares during the period. The Home Depot accounts for about 1.2% of Plimoth Trust Co. LLC’s holdings, making the stock its 23rd biggest position. Plimoth Trust Co. LLC’s holdings in The Home Depot were worth $3,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ICW Investment Advisors LLC increased its position in The Home Depot by 0.4% during the third quarter. ICW Investment Advisors LLC now owns 9,475 shares of the home improvement retailer’s stock valued at $2,631,000 after acquiring an additional 37 shares during the last quarter. TRUE Private Wealth Advisors increased its position in The Home Depot by 0.7% during the fourth quarter. TRUE Private Wealth Advisors now owns 5,035 shares of the home improvement retailer’s stock valued at $1,337,000 after acquiring an additional 37 shares during the last quarter. Santori & Peters Inc. increased its position in The Home Depot by 1.2% during the fourth quarter. Santori & Peters Inc. now owns 3,173 shares of the home improvement retailer’s stock valued at $853,000 after acquiring an additional 38 shares during the last quarter. Groesbeck Investment Management Corp NJ increased its position in The Home Depot by 1.5% during the third quarter. Groesbeck Investment Management Corp NJ now owns 2,705 shares of the home improvement retailer’s stock valued at $751,000 after acquiring an additional 39 shares during the last quarter. Finally, First Commonwealth Financial Corp PA increased its position in The Home Depot by 1.0% during the third quarter. First Commonwealth Financial Corp PA now owns 3,976 shares of the home improvement retailer’s stock valued at $1,104,000 after acquiring an additional 39 shares during the last quarter. 68.71% of the stock is owned by institutional investors.

A number of research firms recently commented on HD. Gordon Haskett upgraded The Home Depot from an “accumulate” rating to a “buy” rating and set a $315.00 price objective for the company in a research report on Thursday, November 12th. Wedbush cut The Home Depot from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 11th. Exane BNP Paribas started coverage on The Home Depot in a research report on Monday, October 5th. They set an “outperform” rating and a $310.00 price objective for the company. Morgan Stanley upped their price target on The Home Depot from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, December 4th. Finally, Telsey Advisory Group upgraded The Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $300.00 to $315.00 in a research report on Monday, November 16th. Five equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $293.25.

In related news, COO Edward P. Decker sold 25,595 shares of the stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $269.40, for a total transaction of $6,895,293.00. Following the completion of the transaction, the chief operating officer now directly owns 97,352 shares of the company’s stock, valued at $26,226,628.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Marie Campbell sold 120 shares of the firm’s stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $269.03, for a total value of $32,283.60. Following the completion of the sale, the executive vice president now directly owns 46,611 shares of the company’s stock, valued at $12,539,757.33. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Shares of The Home Depot stock opened at $284.00 on Friday. The stock has a 50 day moving average of $268.95 and a 200 day moving average of $273.07. The Home Depot, Inc. has a 12 month low of $140.63 and a 12 month high of $292.95. The firm has a market cap of $305.75 billion, a PE ratio of 24.57, a PEG ratio of 2.13 and a beta of 1.03. The company has a current ratio of 1.36, a quick ratio of 0.72 and a debt-to-equity ratio of 21.39.

The Home Depot (NYSE:HD) last announced its quarterly earnings results on Monday, November 16th. The home improvement retailer reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.10. The Home Depot had a negative return on equity of 910.85% and a net margin of 9.94%. The company had revenue of $33.54 billion during the quarter, compared to analyst estimates of $32.03 billion. During the same period in the prior year, the company earned $2.53 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 11.76 earnings per share for the current fiscal year.

The Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD).

Institutional Ownership by Quarter for The Home Depot (NYSE:HD)

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