Rhumbline Advisers Reduces Stock Position in The Home Depot, Inc. $HD

Rhumbline Advisers lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,873,573 shares of the home improvement retailer’s stock after selling 19,033 shares during the quarter. Home Depot makes up 0.6% of Rhumbline Advisers’ holdings, making the stock its 20th largest holding. Rhumbline Advisers’ holdings in Home Depot were worth $759,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Home Depot by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after buying an additional 1,494,615 shares during the period. State Street Corp boosted its position in Home Depot by 0.7% in the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after buying an additional 300,352 shares during the period. Geode Capital Management LLC grew its stake in Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after acquiring an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock worth $5,341,724,000 after acquiring an additional 153,582 shares during the period. Finally, Norges Bank purchased a new position in shares of Home Depot during the second quarter worth approximately $4,885,603,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the transaction, the executive vice president directly owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the transaction, the executive vice president directly owned 3,941 shares in the company, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,963 shares of company stock worth $1,748,845 in the last 90 days. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HD has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Home Depot from $395.00 to $412.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Evercore lowered their target price on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Zacks Research raised Home Depot from a “strong sell” rating to a “hold” rating in a research report on Monday. BNP Paribas Exane lifted their price objective on Home Depot from $353.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Finally, TD Cowen upped their price objective on shares of Home Depot from $410.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $404.47.

Home Depot Trading Up 2.1%

HD opened at $389.19 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The firm has a market cap of $387.44 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 13.60 and a beta of 1.08. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $426.75. The stock has a fifty day moving average price of $363.99 and a 200-day moving average price of $379.73.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. Home Depot’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, December 4th. Home Depot’s payout ratio is 62.71%.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.