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

Argus Investors Counsel Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,454 shares of the home improvement retailer’s stock after selling 466 shares during the quarter. Home Depot comprises 1.2% of Argus Investors Counsel Inc.’s holdings, making the stock its 29th largest position. Argus Investors Counsel Inc.’s holdings in Home Depot were worth $1,732,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Redhawk Wealth Advisors Inc. raised its position in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares in the last quarter. Insight Inv LLC raised its holdings in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares in the last quarter. Marino Stram & Associates LLC lifted its position in shares of Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after buying an additional 25 shares during the last quarter. Capital City Trust Co. FL boosted its holdings in shares of Home Depot by 1.1% in the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after buying an additional 26 shares in the last quarter. Finally, Highline Wealth Partners LLC grew its position in shares of Home Depot by 0.4% in the 4th quarter. Highline Wealth Partners LLC now owns 5,962 shares of the home improvement retailer’s stock worth $2,319,000 after buying an additional 26 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 in the last three months. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Shares of NYSE HD opened at $407.39 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company’s fifty day moving average price is $406.58 and its 200 day moving average price is $393.70. The company has a market capitalization of $404.68 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the company posted $3.81 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HD. Truist Financial increased their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. DA Davidson increased their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their target price on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Mizuho increased their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, TD Cowen boosted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Profile

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.