First Fiduciary Investment Counsel Inc. Reduces Holdings in Home Depot Inc (NYSE:HD)

First Fiduciary Investment Counsel Inc. trimmed its stake in Home Depot Inc (NYSE:HD) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,780 shares of the home improvement retailer’s stock after selling 800 shares during the period. First Fiduciary Investment Counsel Inc.’s holdings in Home Depot were worth $1,266,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Your Advocates Ltd. LLP purchased a new position in Home Depot during the 1st quarter valued at about $27,000. Lion Street Advisors LLC purchased a new position in Home Depot during the 1st quarter valued at about $28,000. Litman Gregory Asset Management LLC lifted its position in Home Depot by 2,042.9% during the 4th quarter. Litman Gregory Asset Management LLC now owns 150 shares of the home improvement retailer’s stock valued at $33,000 after acquiring an additional 143 shares during the period. Evolution Wealth Advisors LLC lifted its position in Home Depot by 85.9% during the 4th quarter. Evolution Wealth Advisors LLC now owns 158 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Finally, Cordasco Financial Network lifted its position in Home Depot by 120.5% during the 1st quarter. Cordasco Financial Network now owns 247 shares of the home improvement retailer’s stock valued at $46,000 after acquiring an additional 135 shares during the period. 69.85% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on HD shares. Piper Sandler lifted their price target on shares of Home Depot from $231.00 to $236.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. Stifel Nicolaus raised their price objective on shares of Home Depot from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Raymond James raised their price objective on shares of Home Depot from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Telsey Advisory Group raised their price objective on shares of Home Depot from $220.00 to $250.00 and gave the company a “market perform” rating in a research note on Wednesday, May 20th. Finally, Gordon Haskett lowered shares of Home Depot from an “accumulate” rating to a “hold” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot currently has a consensus rating of “Buy” and a consensus price target of $252.03.

HD traded down $0.12 on Monday, hitting $248.36. 1,340,144 shares of the stock traded hands, compared to its average volume of 5,572,220. Home Depot Inc has a 52 week low of $140.63 and a 52 week high of $252.23. The firm has a market capitalization of $265.38 billion, a PE ratio of 24.53, a P/E/G ratio of 2.29 and a beta of 1.06. The business has a fifty day moving average price of $222.23 and a two-hundred day moving average price of $219.77.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.19). The company had revenue of $28.26 billion during the quarter, compared to the consensus estimate of $27.59 billion. Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 earnings per share. On average, research analysts forecast that Home Depot Inc will post 9.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, June 3rd. Home Depot’s payout ratio is 58.54%.

In related news, EVP William G. Lennie sold 17,993 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total value of $4,246,707.86. Following the completion of the sale, the executive vice president now owns 54,405 shares in the company, valued at approximately $12,840,668.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP William G. Lennie sold 9,848 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $234.34, for a total value of $2,307,780.32. Following the transaction, the executive vice president now owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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