Argus Investors Counsel Inc. Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Argus Investors Counsel Inc. decreased its position in The Home Depot, Inc. (NYSE:HDFree Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,186 shares of the home improvement retailer’s stock after selling 543 shares during the period. Home Depot accounts for approximately 1.5% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 18th largest position. Argus Investors Counsel Inc.’s holdings in Home Depot were worth $2,373,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bare Financial Services Inc purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $27,000. Keener Financial Planning LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC boosted its position in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

HD traded down $3.70 on Thursday, reaching $326.89. The company had a trading volume of 3,400,459 shares, compared to its average volume of 3,397,238. 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 capitalization of $323.95 billion, a PE ratio of 21.92, a P/E/G ratio of 2.32 and a beta of 1.01. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The stock has a 50-day moving average price of $351.51 and a 200-day moving average price of $347.35.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the previous year, the company earned $3.82 earnings per share. Home Depot’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.31 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be given a $2.25 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.75%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research report on Friday, May 10th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Tuesday, May 14th. Finally, UBS Group cut their price objective on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.46.

View Our Latest Report on Home Depot

About Home Depot

(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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