IMS Capital Management Sells 153 Shares of The Home Depot, Inc. (NYSE:HD)

IMS Capital Management decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,912 shares of the home improvement retailer’s stock after selling 153 shares during the quarter. Home Depot makes up 1.6% of IMS Capital Management’s portfolio, making the stock its 11th largest position. IMS Capital Management’s holdings in Home Depot were worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. SFE Investment Counsel bought a new stake in Home Depot during the 4th quarter valued at $210,000. Avestar Capital LLC increased its stake in shares of Home Depot by 8.2% during the fourth quarter. Avestar Capital LLC now owns 7,424 shares of the home improvement retailer’s stock valued at $2,888,000 after buying an additional 561 shares during the period. MGB Wealth Management LLC raised its holdings in shares of Home Depot by 1.4% in the fourth quarter. MGB Wealth Management LLC now owns 6,741 shares of the home improvement retailer’s stock valued at $2,623,000 after acquiring an additional 94 shares in the last quarter. Morris Financial Concepts Inc. raised its holdings in shares of Home Depot by 11.6% in the fourth quarter. Morris Financial Concepts Inc. now owns 1,748 shares of the home improvement retailer’s stock valued at $680,000 after acquiring an additional 182 shares in the last quarter. Finally, Snider Financial Group lifted its stake in Home Depot by 90.7% in the fourth quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer’s stock worth $559,000 after acquiring an additional 683 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. Stifel Nicolaus boosted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. TD Cowen boosted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Truist Financial upped their price objective on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.00.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Up 1.4 %

Home Depot stock opened at $412.64 on Friday. The stock has a 50-day moving average price of $405.21 and a 200 day moving average price of $395.46. The company has a market capitalization of $409.90 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.81 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

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.