Synovus Financial Corp Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Synovus Financial Corp trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,164 shares of the home improvement retailer’s stock after selling 14,015 shares during the period. Home Depot comprises about 0.9% of Synovus Financial Corp’s portfolio, making the stock its 17th biggest position. Synovus Financial Corp’s holdings in Home Depot were worth $79,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. International Assets Investment Management LLC raised its stake in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after acquiring an additional 1,474,459 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot in the third quarter valued at approximately $336,231,000. FMR LLC boosted its holdings in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, Sarasin & Partners LLP raised its holdings in Home Depot by 95.2% during the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after purchasing an additional 556,053 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $414.45 on Friday. 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 firm has a market capitalization of $411.70 billion, a PE ratio of 28.16, a P/E/G ratio of 2.93 and a beta of 1.03. The firm’s 50-day simple moving average is $411.62 and its 200 day simple moving average is $377.35. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results 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. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $3.81 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Transactions at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last quarter. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on HD. Wells Fargo & Company lifted their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. Guggenheim raised their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. Finally, DA Davidson raised their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

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.