CCM Investment Advisers LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

CCM Investment Advisers LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,949 shares of the home improvement retailer’s stock after selling 451 shares during the period. Home Depot comprises about 2.2% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 15th largest position. CCM Investment Advisers LLC’s holdings in Home Depot were worth $19,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. AdvisorShares Investments LLC purchased a new position in Home Depot during the 2nd quarter worth $461,000. Linscomb Wealth Inc. grew its position in shares of Home Depot by 1.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 6,584 shares of the home improvement retailer’s stock worth $2,267,000 after buying an additional 90 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Home Depot by 9.8% during the 2nd quarter. American Century Companies Inc. now owns 928,603 shares of the home improvement retailer’s stock worth $319,662,000 after acquiring an additional 82,740 shares in the last quarter. Y.D. More Investments Ltd lifted its position in Home Depot by 18.0% during the second quarter. Y.D. More Investments Ltd now owns 975 shares of the home improvement retailer’s stock valued at $335,000 after acquiring an additional 149 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its stake in Home Depot by 2.8% in the second quarter. Achmea Investment Management B.V. now owns 125,101 shares of the home improvement retailer’s stock valued at $43,065,000 after acquiring an additional 3,429 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ann Marie Campbell sold 100 shares of the company’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 approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

Home Depot stock traded up $2.32 during trading on Friday, reaching $389.52. The company had a trading volume of 2,625,552 shares, compared to its average volume of 2,599,576. 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 firm’s 50-day simple moving average is $406.19 and its 200 day simple moving average is $385.06. The firm has a market capitalization of $386.93 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.81 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Analyst Ratings Changes

HD has been the subject of several analyst reports. Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Finally, Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. 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. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus 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.