Capital Investment Counsel Inc Sells 1,134 Shares of The Home Depot, Inc. (NYSE:HD)

Capital Investment Counsel Inc trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,538 shares of the home improvement retailer's stock after selling 1,134 shares during the quarter. Capital Investment Counsel Inc's holdings in Home Depot were worth $1,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Navigoe LLC purchased a new stake in Home Depot in the 4th quarter worth about $29,000. Quarry LP lifted its holdings in Home Depot by 220.0% during 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 during the last quarter. Sellwood Investment Partners LLC bought a new position in Home Depot during the fourth quarter worth about $39,000. NewSquare Capital LLC increased its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $45,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction dated 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 directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president directly 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. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on HD. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Robert W. Baird decreased their price objective on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Guggenheim restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Seven 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Price Performance

Shares of NYSE:HD traded down $0.49 during trading on Friday, reaching $371.36. The company had a trading volume of 2,573,629 shares, compared to its average volume of 3,438,198. The company has a fifty day moving average of $365.14 and a two-hundred day moving average of $376.15. 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 stock has a market capitalization of $369.47 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.53 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 - Get Free Report) last announced its 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). The company had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.63 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

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.