Burney Co. Cuts Stock Holdings in The Home Depot, Inc. $HD

Burney Co. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 12.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 27,786 shares of the home improvement retailer’s stock after selling 4,081 shares during the quarter. Burney Co.’s holdings in Home Depot were worth $10,188,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Nuveen LLC purchased a new position in shares of Home Depot in the 1st quarter worth about $2,076,592,000. Valeo Financial Advisors LLC boosted its holdings in shares of Home Depot by 16,746.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after buying an additional 4,510,944 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock worth $3,391,240,000 after buying an additional 1,494,261 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Home Depot in the 2nd quarter worth about $418,486,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock worth $5,282,398,000 after buying an additional 891,326 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Up 0.1%

Shares of HD opened at $379.75 on Monday. The business’s 50-day moving average price is $400.57 and its 200-day moving average price is $380.88. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The stock has a market cap of $378.00 billion, a PE ratio of 25.80, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last announced 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the prior year, the company earned $4.60 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HD shares. JPMorgan Chase & Co. cut their price target on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. DA Davidson reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Stifel Nicolaus boosted their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Robert W. Baird boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $434.35.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by insiders.

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.