CCM Investment Group LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• CCM Investment Group LLC acquired a total of 19,537 shares of The Home Depot, Inc., valued at approximately $6,997,000, making it the firm's 15th largest holding.
• In the 1st quarter, several institutional investors, including Vanguard Group and Asset Planning Services, significantly increased their holdings in Home Depot, with institutional investors now owning 70.86% of the company's stock.
• The Home Depot reported a miss in quarterly earnings with EPS of $3.56, slightly below analyst expectations, although revenue of $39.86 billion exceeded estimates.

CCM Investment Group LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,537 shares of the home improvement retailer's stock, valued at approximately $6,997,000. Home Depot makes up approximately 0.7% of CCM Investment Group LLC's holdings, making the stock its 15th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC increased its holdings in shares of Home Depot by 86.8% in the 1st 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 in the last quarter. Quarry LP raised its stake in shares of Home Depot by 220.0% in 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, Quest 10 Wealth Builders Inc. lifted its holdings in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on HD. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the company an "overweight" rating in a research report on Monday, June 30th. Finally, Royal Bank Of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $427.38.

Home Depot Price Performance

Shares of HD traded up $7.44 during trading hours on Wednesday, reaching $403.44. 1,083,338 shares of the stock traded hands, compared to its average volume of 3,486,184. The company has a market cap of $401.39 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company's 50-day moving average price is $368.49 and its two-hundred day moving average price is $371.95. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 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 analysts' expectations of $39.24 billion. During the same quarter in the previous year, the firm earned $3.63 earnings per share. Home Depot's revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insider Buying and Selling

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business'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 owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

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.