Sterling Investment Counsel LLC Acquires 2,704 Shares of The Home Depot, Inc. (NYSE:HD)

Sterling Investment Counsel LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 139.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,644 shares of the home improvement retailer’s stock after buying an additional 2,704 shares during the period. Sterling Investment Counsel LLC’s holdings in Home Depot were worth $1,702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Navigoe LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $32,000. Quarry LP increased its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Sellwood Investment Partners LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $39,000. Finally, NewSquare Capital LLC increased its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HD. DA Davidson lowered their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a report on Monday, June 2nd. Finally, Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Price Performance

HD stock opened at $346.41 on Thursday. The company has a 50 day simple moving average of $362.86 and a 200 day simple moving average of $381.18. The stock has a market cap of $344.65 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 3.32 and a beta of 1.02. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company posted $3.63 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

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.