Cullinan Associates Inc. Sells 1,029 Shares of The Home Depot, Inc. (NYSE:HD)

Cullinan Associates Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,931 shares of the home improvement retailer’s stock after selling 1,029 shares during the period. Cullinan Associates Inc.’s holdings in Home Depot were worth $10,865,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $26,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the third quarter valued at $41,000. Sugar Maple Asset Management LLC bought a new position in Home Depot in the fourth quarter valued at $41,000. Livelsberger Financial Advisory bought a new position in Home Depot in the third quarter valued at $46,000. Finally, Finley Financial LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $59,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 0.6 %

Shares of HD stock opened at $414.04 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a fifty day moving average price of $407.11 and a 200-day moving average price of $393.41. The company has a market cap of $411.29 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share 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 company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the company earned $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HD shares. Mizuho increased their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. Stifel Nicolaus lifted their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Truist Financial raised their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI raised their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research 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.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s 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 transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’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 transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

About Home Depot

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.