Hodges Capital Management Inc. Decreases Holdings in The Home Depot, Inc. $HD

Hodges Capital Management Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 35.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,356 shares of the home improvement retailer’s stock after selling 12,551 shares during the period. Hodges Capital Management Inc.’s holdings in Home Depot were worth $8,560,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HD. Brighton Jones LLC increased its stake in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Home Depot by 4.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after purchasing an additional 565 shares during the last quarter. Quadcap Wealth Management LLC increased its stake in shares of Home Depot by 7.4% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,191 shares of the home improvement retailer’s stock worth $852,000 after purchasing an additional 151 shares during the last quarter. ProShare Advisors LLC grew its stake in Home Depot by 29.3% in the 4th quarter. ProShare Advisors LLC now owns 294,223 shares of the home improvement retailer’s stock valued at $114,450,000 after buying an additional 66,714 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in Home Depot in the 4th quarter valued at approximately $20,616,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, 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 transaction of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,532 shares of company stock worth $18,648,987. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Up 2.5%

HD opened at $423.37 on Friday. The company has a fifty day moving average price of $388.99 and a 200-day moving average price of $372.26. The firm has a market capitalization of $421.42 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for 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 firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot’s payout ratio is 62.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HD shares. Royal Bank Of Canada reduced their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Truist Financial lifted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Robert W. Baird lifted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $432.52.

Home Depot Company 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.