Wendell David Associates Inc. Trims Position in The Home Depot, Inc. $HD

Wendell David Associates Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.9% during the 2nd quarter, Holdings Channel reports. The fund owned 26,037 shares of the home improvement retailer’s stock after selling 1,936 shares during the quarter. Wendell David Associates Inc.’s holdings in Home Depot were worth $9,546,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HD. Brighton Jones LLC grew its position in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after acquiring an additional 7,203 shares during the period. GAMMA Investing LLC grew its position in Home Depot by 7.2% in the first quarter. GAMMA Investing LLC now owns 27,932 shares of the home improvement retailer’s stock worth $10,237,000 after acquiring an additional 1,880 shares during the period. Exchange Traded Concepts LLC grew its position in Home Depot by 57.0% in the first quarter. Exchange Traded Concepts LLC now owns 1,311 shares of the home improvement retailer’s stock worth $480,000 after acquiring an additional 476 shares during the period. Riverwater Partners LLC grew its position in Home Depot by 13.1% in the first quarter. Riverwater Partners LLC now owns 854 shares of the home improvement retailer’s stock worth $313,000 after acquiring an additional 99 shares during the period. Finally, Rockline Wealth Management LLC grew its position in Home Depot by 1.9% in the first quarter. Rockline Wealth Management LLC now owns 30,337 shares of the home improvement retailer’s stock worth $11,118,000 after acquiring an additional 566 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares of the company’s stock, 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 valued at $19,623,432 in the last 90 days. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 1.1%

NYSE:HD opened at $391.79 on Friday. The firm has a market cap of $389.98 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.72 and a beta of 1.00. The stock has a fifty day moving average price of $403.70 and a 200 day moving average price of $377.97. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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

Home Depot Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on HD shares. Morgan Stanley increased their price objective on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Stifel Nicolaus upped their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Wells Fargo & Company upped their price target on Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a research note on Wednesday, October 8th. Finally, Truist Financial upped their price target on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.