CCG Wealth Management LLC Sells 238 Shares of The Home Depot, Inc. (NYSE:HD)

CCG Wealth Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 12.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,699 shares of the home improvement retailer’s stock after selling 238 shares during the quarter. CCG Wealth Management LLC’s holdings in Home Depot were worth $652,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bare Financial Services Inc bought a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $27,000. Keener Financial Planning LLC bought a new position in Home Depot during the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its stake in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in Home Depot in the fourth quarter worth $35,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 2.3 %

Shares of HD stock opened at $336.19 on Tuesday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The firm has a fifty day moving average price of $338.51 and a 200-day moving average price of $352.80. The company has a market cap of $333.37 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.38 and a beta of 0.99. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the previous year, the company posted $3.82 earnings per share. Home Depot’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Insider Buying and Selling at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HD shares. Evercore ISI lifted their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Truist Financial decreased their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and increased their price target for the company from $352.00 to $395.00 in a report on Wednesday, June 26th. UBS Group decreased their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

About Home Depot

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.