Narwhal Capital Management Reduces Position in The Home Depot, Inc. (NYSE:HD)

Narwhal Capital Management reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,551 shares of the home improvement retailer’s stock after selling 5,946 shares during the period. Home Depot accounts for about 1.9% of Narwhal Capital Management’s portfolio, making the stock its 12th largest holding. Narwhal Capital Management’s holdings in Home Depot were worth $21,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Abacus Wealth Partners LLC boosted its stake in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its stake in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares during the period. Insight Inv LLC boosted its stake in shares of Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after buying an additional 25 shares during the period. Marino Stram & Associates LLC boosted its stake in shares of Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the period. Finally, Capital City Trust Co. FL boosted its stake in shares of Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $418.83 on Wednesday. The company’s fifty day simple moving average is $407.42 and its 200-day simple moving average is $391.36. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $416.04 billion, a PE ratio of 28.45, a P/E/G ratio of 4.32 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the firm posted $3.81 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Analyst Ratings Changes

HD has been the subject of several recent research reports. Barclays increased their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price target on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Guggenheim increased their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity

In related news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Company 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.