Campbell Newman Asset Management Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Campbell Newman Asset Management Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,629 shares of the home improvement retailer’s stock after selling 3,870 shares during the period. Home Depot accounts for 1.9% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 22nd biggest position. Campbell Newman Asset Management Inc.’s holdings in Home Depot were worth $23,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its holdings in Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares during the period. Pegasus Asset Management Inc. raised its holdings in shares of Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the last quarter. Pensionfund Sabic lifted its position in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB grew its position in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the period. Finally, Wedmont Private Capital raised its stake in shares of Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 0.8 %

Shares of NYSE:HD opened at $409.21 on Friday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week 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 business has a fifty day moving average of $406.24 and a two-hundred day moving average of $386.78. The stock has a market cap of $406.50 billion, a P/E ratio of 27.80, a PEG ratio of 4.11 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the business earned $3.81 earnings per share. Home Depot’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is presently 61.14%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley raised their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. TD Cowen lifted their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Sanford C. Bernstein started coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.