The Home Depot, Inc. $HD Stake Cut by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,400 shares of the home improvement retailer’s stock after selling 600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Home Depot were worth $4,913,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Tower View Wealth Management LLC boosted its position in Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after purchasing an additional 671 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Home Depot in the 1st quarter valued at approximately $3,851,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot in the 1st quarter valued at approximately $406,000. Arbor Capital Management Inc. ADV increased its holdings in Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock worth $1,757,000 after buying an additional 221 shares during the last quarter. Finally, Focus Partners Wealth raised its position in Home Depot by 4.1% during the first quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock valued at $155,131,000 after acquiring an additional 16,654 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Wells Fargo & Company upped their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Mizuho raised their target price on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Wolfe Research initiated coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target for the company. Finally, Oppenheimer increased their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $436.40.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by company insiders.

Home Depot Trading Down 0.0%

Shares of Home Depot stock opened at $394.88 on Friday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company’s fifty day simple moving average is $402.63 and its 200-day simple moving average is $376.37. The company has a market cap of $393.06 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. 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 quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is currently 62.50%.

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.