Sandy Spring Bank Has $18.94 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Sandy Spring Bank cut its holdings in The Home Depot, Inc. (NYSE:HD) by 2.8% in the fourth quarter, according to its most recent Form 13F 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 comprises approximately 0.8% of Sandy Spring Bank’s holdings, making the stock its 26th largest position. Sandy Spring Bank’s holdings in Home Depot were worth $18,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter worth $41,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 1.1 %

HD opened at $353.35 on Thursday. The firm’s 50-day simple moving average is $395.36 and its 200-day simple moving average is $399.08. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market cap of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is presently 61.66%.

Analyst Ratings Changes

HD has been the subject of a number of analyst reports. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

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.