The Home Depot, Inc. (NYSE:HD) Shares Bought by Capital Investment Counsel Inc

Posted by on Apr 16th, 2023

Capital Investment Counsel Inc raised its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,020 shares of the home improvement retailer’s stock after purchasing an additional 820 shares during the period. Capital Investment Counsel Inc’s holdings in Home Depot were worth $1,901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Venturi Wealth Management LLC lifted its stake in shares of Home Depot by 1.4% in the fourth quarter. Venturi Wealth Management LLC now owns 34,248 shares of the home improvement retailer’s stock worth $10,818,000 after buying an additional 457 shares in the last quarter. Del Sette Capital Management LLC acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $201,000. Sargent Investment Group LLC grew its holdings in shares of Home Depot by 5.2% in the fourth quarter. Sargent Investment Group LLC now owns 8,070 shares of the home improvement retailer’s stock valued at $2,549,000 after purchasing an additional 400 shares in the last quarter. Naviter Wealth LLC grew its holdings in shares of Home Depot by 10.9% in the fourth quarter. Naviter Wealth LLC now owns 4,204 shares of the home improvement retailer’s stock valued at $1,336,000 after purchasing an additional 412 shares in the last quarter. Finally, Balentine LLC grew its holdings in shares of Home Depot by 368.7% in the fourth quarter. Balentine LLC now owns 26,617 shares of the home improvement retailer’s stock valued at $8,407,000 after purchasing an additional 20,938 shares in the last quarter. 68.31% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.0 %

Shares of Home Depot stock opened at $292.19 on Friday. The company has a market cap of $295.89 billion, a P/E ratio of 17.52, a PEG ratio of 1.68 and a beta of 0.93. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $347.25. The firm has a fifty day moving average of $297.04 and a two-hundred day moving average of $304.62.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.04. The company had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. Home Depot’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 EPS. On average, analysts forecast that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were given a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $8.36 dividend on an annualized basis and a yield of 2.86%. This is an increase from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio is presently 50.12%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent analyst reports. Cowen dropped their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. UBS Group dropped their price objective on shares of Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Evercore ISI dropped their price objective on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Truist Financial dropped their price objective on shares of Home Depot from $382.00 to $352.00 in a research report on Wednesday, February 22nd. Finally, Roth Mkm dropped their price objective on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $329.89.

About Home Depot

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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