Salem Investment Counselors Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Salem Investment Counselors Inc. decreased its position in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 2.5% during the first quarter, HoldingsChannel reports. The firm owned 26,560 shares of the home improvement retailer’s stock after selling 676 shares during the period. Salem Investment Counselors Inc.’s holdings in Home Depot were worth $10,189,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HD. Norges Bank purchased a new stake in Home Depot during the fourth quarter valued at about $4,311,070,000. International Assets Investment Management LLC raised its position in Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after buying an additional 1,207,388 shares during the period. Capital Research Global Investors increased its holdings in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Home Depot by 38.9% in the fourth quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock worth $613,258,000 after buying an additional 495,894 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a report on Friday, April 5th. HSBC decreased their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. DA Davidson reiterated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Tuesday, May 14th. Finally, Truist Financial decreased their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.46.

Check Out Our Latest Stock Analysis on Home Depot

Home Depot Stock Up 0.7 %

NYSE HD traded up $2.36 during mid-day trading on Friday, reaching $355.80. The stock had a trading volume of 6,596,539 shares, compared to its average volume of 3,061,367. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a market cap of $352.81 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.44 and a beta of 1.00. The company has a fifty day moving average price of $337.65 and a 200 day moving average price of $352.23. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.82 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Home Depot Company Profile

(Free Report)

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.

See Also

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

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