The Home Depot, Inc. $HD Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,394 shares of the home improvement retailer’s stock after selling 995 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Home Depot were worth $7,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Nuveen LLC acquired a new stake in shares of Home Depot in the first quarter valued at approximately $2,076,592,000. Valeo Financial Advisors LLC raised its position in shares of Home Depot by 16,746.9% during 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 purchasing an additional 4,510,944 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $3,391,240,000 after buying an additional 1,494,261 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Home Depot during the 2nd quarter valued at $418,486,000. Finally, Charles Schwab Investment Management Inc. increased its position in Home Depot by 6.6% during the first 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 in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.5%

Shares of HD opened at $386.83 on Friday. The firm has a market cap of $385.04 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.67 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. The company’s fifty day moving average is $402.68 and its two-hundred day moving average is $379.51. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its 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 return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period last year, the business posted $4.60 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued 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 dividend yield of 2.4%. Home Depot’s payout ratio is presently 62.50%.

Insider Activity

In related news, CEO Edward P. Decker sold 32,897 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business’s stock in a transaction that occurred on 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 owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HD. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. JPMorgan Chase & Co. cut 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 report on Wednesday, August 20th. Truist Financial raised their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Wells Fargo & Company boosted their price target on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Mizuho raised their price objective on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $435.42.

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.