Spinnaker Investment Group LLC Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Spinnaker Investment Group LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,857 shares of the home improvement retailer’s stock after selling 219 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Home Depot were worth $639,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bey Douglas LLC purchased a new stake in Home Depot during the 4th quarter worth about $913,000. Hartline Investment Corp increased its position in Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock worth $5,397,000 after purchasing an additional 460 shares in the last quarter. MinichMacGregor Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth about $387,000. Cambridge Investment Research Advisors Inc. increased its position in Home Depot by 1.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 213,799 shares of the home improvement retailer’s stock worth $74,092,000 after purchasing an additional 2,209 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 2.8 %

Home Depot stock traded up $10.23 during midday trading on Friday, hitting $375.59. 3,347,734 shares of the company were exchanged, compared to its average volume of 3,446,290. The company’s fifty day moving average price is $353.44 and its 200-day moving average price is $353.67. The company has a market cap of $372.44 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.40%. Home Depot’s dividend payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Loop Capital decreased their price target on Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada decreased their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. HSBC decreased their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus decreased their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $386.33.

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.