Wedbush Securities Inc. Sells 1,020 Shares of The Home Depot, Inc. $HD

Wedbush Securities Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,569 shares of the home improvement retailer’s stock after selling 1,020 shares during the period. Home Depot accounts for 0.6% of Wedbush Securities Inc.’s portfolio, making the stock its 19th largest holding. Wedbush Securities Inc.’s holdings in Home Depot were worth $18,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $28,000. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in Home Depot in the 2nd quarter valued at $40,000. GFG Capital LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $40,000. Finally, Nexus Investment Management ULC bought a new position in shares of Home Depot during the 2nd quarter worth about $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HD. Wells Fargo & Company lifted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. Oppenheimer upped their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Sanford C. Bernstein raised their target price on Home Depot from $403.00 to $406.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, 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 on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $434.82.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares of the company’s stock, valued at $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $370.71 on Friday. The business has a fifty day simple moving average of $397.28 and a 200 day simple moving average of $381.27. The company has a market cap of $369.00 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.59 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 Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 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 analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed 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. This represents a $9.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend 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.