Cidel Asset Management Inc. Trims Stock Holdings in The Home Depot, Inc. $HD

Cidel Asset Management Inc. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,703 shares of the home improvement retailer’s stock after selling 122 shares during the period. Cidel Asset Management Inc.’s holdings in Home Depot were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Mainstay Capital Management LLC ADV bought a new position in Home Depot in the 2nd quarter valued at $263,000. WealthPlan Investment Management LLC bought a new position in Home Depot in the 2nd quarter valued at $1,149,000. Tower View Wealth Management LLC boosted its holdings in Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd bought a new position in Home Depot in the 1st quarter valued at $3,851,000. Finally, Shell Asset Management Co. boosted its holdings in Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $391.79 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The company has a market capitalization of $389.98 billion, a PE ratio of 26.62, a P/E/G ratio of 3.72 and a beta of 1.00. The firm has a fifty day simple moving average of $403.70 and a two-hundred day simple moving average of $377.97. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month 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 for the quarter, missing the consensus estimate of $4.69 by ($0.01). The business 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 business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Morgan Stanley lifted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Oppenheimer lifted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. Stifel Nicolaus lifted their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Finally, Wolfe Research started coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

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.