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Cutler Investment Counsel LLC Has $17.72 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Home Depot logo with Retail/Wholesale background

Key Points

  • Cutler Investment Counsel LLC reduced its stake in The Home Depot by 6.1%, now holding approximately $17.72 million worth of shares, which constitutes about 2.1% of its investment portfolio.
  • Several institutional investors dramatically increased their holdings in Home Depot during the first quarter, with notable boosts from Asset Planning Services and GAMMA Investing, reflecting strong confidence in the company.
  • Home Depot recently reported earnings of $3.56 per share, falling short of analyst expectations, despite a revenue increase of 9.4% year-over-year, indicating mixed financial performance.
  • Looking to export and analyze Home Depot data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Cutler Investment Counsel LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,347 shares of the home improvement retailer's stock after selling 3,135 shares during the quarter. Home Depot accounts for 2.1% of Cutler Investment Counsel LLC's holdings, making the stock its 14th biggest position. Cutler Investment Counsel LLC's holdings in Home Depot were worth $17,719,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HD. Navigoe LLC acquired a new stake in Home Depot during the 4th quarter valued at $29,000. Abound Financial LLC acquired a new stake in shares of Home Depot during the first quarter worth $31,000. Iron Horse Wealth Management LLC lifted its holdings in shares of 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 buying an additional 46 shares in the last quarter. Quarry LP lifted its holdings in shares of 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 buying an additional 66 shares in 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 worth $42,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Trading Up 1.6%

Shares of NYSE:HD traded up $6.04 during midday trading on Friday, hitting $373.55. 3,006,523 shares of the stock were exchanged, compared to its average volume of 3,228,696. The stock has a market capitalization of $371.66 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 3.55 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The business's 50-day moving average price is $365.84 and its 200 day moving average price is $372.91. 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 released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.63 earnings per share. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. DA Davidson dropped their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. TD Securities downgraded Home Depot to a "buy" rating in a report on Monday, June 2nd. Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Mizuho decreased their price target 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. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Read Our Latest Research Report on HD

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

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

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