Cutler Investment Counsel LLC Sells 1,390 Shares of The Home Depot, Inc. (NYSE:HD)

Cutler Investment Counsel LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,497 shares of the home improvement retailer’s stock after selling 1,390 shares during the quarter. Home Depot accounts for about 2.7% of Cutler Investment Counsel LLC’s holdings, making the stock its 8th largest position. Cutler Investment Counsel LLC’s holdings in Home Depot were worth $21,272,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HD. International Assets Investment Management LLC grew its stake in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Wulff Hansen & CO. grew its position in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares during the period. Price T Rowe Associates Inc. MD grew its position in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares during the period. Swedbank AB acquired a new position in Home Depot during the first quarter worth $301,364,000. Finally, Sarasin & Partners LLP lifted its holdings in shares of Home Depot by 95.2% during the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock valued at $392,411,000 after acquiring an additional 556,053 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.6 %

NYSE HD traded up $2.46 during trading on Friday, hitting $408.18. The stock had a trading volume of 3,239,545 shares, compared to its average volume of 3,381,447. The company has a market capitalization of $405.44 billion, a PE ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $302.34 and a 12 month high of $421.56. The company’s 50-day moving average price is $399.51 and its two-hundred day moving average price is $366.34. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the company earned $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.06 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is presently 61.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Stifel Nicolaus raised their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Barclays raised 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 boosted their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Home Depot Company 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.