Sterling Investment Counsel LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Sterling Investment Counsel LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,323 shares of the home improvement retailer’s stock after purchasing an additional 392 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Home Depot were worth $1,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new position in Home Depot in the 2nd quarter valued at $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot in the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the 2nd quarter worth $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $402.40 on Friday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market capitalization of $399.03 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a 50 day moving average price of $388.23 and a 200 day moving average price of $359.43. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. Home Depot’s payout ratio is 60.36%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Truist Financial increased their target price on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler boosted their price target 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 analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

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.