Clifford Swan Investment Counsel LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

Clifford Swan Investment Counsel LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,705 shares of the home improvement retailer’s stock after acquiring an additional 488 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Home Depot were worth $14,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Navigoe LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $29,000. Abound Financial LLC purchased a new stake in Home Depot during the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares during the last quarter. Quarry LP lifted its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $39,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company set a $420.00 target price on Home Depot and gave the stock an “overweight” rating in a research report on Monday, June 30th. JPMorgan Chase & Co. boosted their target price on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. DA Davidson decreased their target price on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insiders Place Their Bets

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

Home Depot Stock Performance

Shares of NYSE HD traded up $2.01 during mid-day trading on Monday, hitting $361.41. The company had a trading volume of 190,830 shares, compared to its average volume of 3,429,830. The firm’s 50 day simple moving average is $366.03 and its two-hundred day simple moving average is $374.29. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The stock has a market cap of $359.57 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.42 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. Home Depot’s dividend payout ratio is 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.