Hennessy Advisors Inc. Has $4.91 Million Stock Position in The Home Depot, Inc. $HD

Hennessy Advisors Inc. cut its stake in The Home Depot, Inc. (NYSE:HD) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,400 shares of the home improvement retailer’s stock after selling 600 shares during the period. Hennessy Advisors Inc.’s holdings in Home Depot were worth $4,913,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot during the second quarter worth approximately $28,000. Abound Financial LLC bought a new stake in Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in Home Depot in the 2nd quarter valued at $40,000. Finally, Compass Financial Services Inc acquired a new position in Home Depot in the first quarter worth $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. DA Davidson restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research report on Saturday, September 27th. Mizuho raised their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Finally, Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $436.40.

Home Depot Stock Performance

Shares of Home Depot stock opened at $394.88 on Friday. The firm has a fifty day moving average of $402.63 and a two-hundred day moving average of $376.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock has a market capitalization of $393.06 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The company had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

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.