CCM Investment Advisers LLC Purchases 3,643 Shares of The Home Depot, Inc. (NYSE:HD)

CCM Investment Advisers LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,721 shares of the home improvement retailer’s stock after buying an additional 3,643 shares during the quarter. Home Depot comprises about 2.2% of CCM Investment Advisers LLC’s portfolio, making the stock its 11th largest position. CCM Investment Advisers LLC’s holdings in Home Depot were worth $15,264,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HD. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Home Depot by 105,205.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after purchasing an additional 10,984,516 shares during the last quarter. Gateway Advisory LLC grew its holdings in shares of Home Depot by 29,554.9% during the 1st quarter. Gateway Advisory LLC now owns 5,109,249 shares of the home improvement retailer’s stock valued at $5,109,000 after purchasing an additional 5,092,020 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Home Depot by 37.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock valued at $2,582,715,000 after purchasing an additional 2,247,709 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Home Depot during the 1st quarter valued at approximately $563,524,000. 68.34% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $326.26 on Wednesday. The firm has a market capitalization of $326.28 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95. The firm has a fifty day simple moving average of $324.69 and a two-hundred day simple moving average of $304.73. The company has a current ratio of 1.31, a quick ratio of 0.35 and a debt-to-equity ratio of 30.53. The Home Depot, Inc. has a 12 month low of $265.61 and a 12 month high of $347.25.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.20. The business had revenue of $42.92 billion during the quarter, compared to analyst estimates of $42.19 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. Home Depot’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.05 EPS. Analysts forecast that The Home Depot, Inc. will post 15.24 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a dividend of $2.09 per share. The ex-dividend date is Wednesday, August 30th. This represents a $8.36 dividend on an annualized basis and a yield of 2.56%. Home Depot’s dividend payout ratio (DPR) is presently 52.22%.

Home Depot declared that its Board of Directors has authorized a share buyback program on Tuesday, August 15th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. Truist Financial lifted their price target on shares of Home Depot from $348.00 to $372.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. StockNews.com began coverage on shares of Home Depot in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Telsey Advisory Group lifted their target price on shares of Home Depot from $315.00 to $335.00 in a research report on Wednesday, August 16th. Citigroup lifted their target price on shares of Home Depot from $327.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Financial Group lifted their target price on shares of Home Depot from $370.00 to $384.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Thirteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $339.62.

Insider Buying and Selling at Home Depot

In other news, CAO Kimberly R. Scardino sold 1,600 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the sale, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Kimberly R. Scardino sold 1,600 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the sale, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the sale, the executive vice president now owns 73,049 shares of the company’s stock, valued at approximately $23,770,144.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,811 shares of company stock worth $6,441,376. 0.19% of the stock is owned by corporate insiders.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. 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.