Formidable Asset Management LLC Sells 35 Shares of The Home Depot, Inc. $HD

Formidable Asset Management LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,984 shares of the home improvement retailer’s stock after selling 35 shares during the period. Home Depot makes up approximately 0.8% of Formidable Asset Management LLC’s holdings, making the stock its 23rd largest position. Formidable Asset Management LLC’s holdings in Home Depot were worth $4,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HD. Brighton Jones LLC increased its holdings in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Versant Capital Management Inc lifted its stake in Home Depot by 25.5% in the 1st quarter. Versant Capital Management Inc now owns 8,219 shares of the home improvement retailer’s stock worth $3,012,000 after purchasing an additional 1,672 shares in the last quarter. Legacy Private Trust Co. lifted its stake in Home Depot by 21.4% in the 1st quarter. Legacy Private Trust Co. now owns 8,217 shares of the home improvement retailer’s stock worth $3,011,000 after purchasing an additional 1,450 shares in the last quarter. Sage Capital Advisors llc lifted its stake in Home Depot by 0.9% in the 1st quarter. Sage Capital Advisors llc now owns 19,642 shares of the home improvement retailer’s stock worth $7,199,000 after purchasing an additional 176 shares in the last quarter. Finally, Webster Bank N. A. increased its holdings in shares of Home Depot by 0.9% in the 1st quarter. Webster Bank N. A. now owns 19,838 shares of the home improvement retailer’s stock worth $7,270,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.7%

NYSE HD opened at $410.16 on Friday. The company has a fifty day simple moving average of $399.85 and a two-hundred day simple moving average of $374.61. The stock has a market cap of $408.27 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.86 and a beta of 1.00. 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 issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The business had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 dividend on an annualized basis and a yield of 2.2%. Home Depot’s payout ratio is presently 62.50%.

Insider Activity at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HD. Truist Financial boosted their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Wells Fargo & Company upped their price target on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Wolfe Research began coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, Oppenheimer upped their price target on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.40.

About Home Depot

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.