Renasant Bank Trims Holdings in The Home Depot, Inc. $HD

Renasant Bank trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 42.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,891 shares of the home improvement retailer’s stock after selling 1,399 shares during the quarter. Renasant Bank’s holdings in Home Depot were worth $766,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sagard Holdings Management Inc. purchased a new position in shares of Home Depot during the second quarter worth approximately $29,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Home Depot in the second quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the second quarter worth approximately $35,000. Dougherty Wealth Advisers LLC purchased a new position in Home Depot during the 3rd quarter worth $38,000. Finally, Marquette Asset Management LLC bought a new stake in Home Depot during the 3rd quarter valued at $38,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Zacks Research downgraded Home Depot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 27th. UBS Group set a $430.00 price objective on Home Depot in a report on Wednesday, December 10th. Wall Street Zen cut shares of Home Depot from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Stifel Nicolaus cut their target price on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a research report on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Home Depot in a report on Monday, December 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $404.47.

Home Depot Stock Performance

HD stock opened at $385.01 on Friday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $426.75. The firm has a market cap of $383.28 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 13.65 and a beta of 1.08. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The firm has a 50-day simple moving average of $362.81 and a two-hundred day simple moving average of $379.50.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same quarter last year, the firm earned $3.78 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, December 4th. Home Depot’s dividend payout ratio is currently 62.71%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 2,872 shares of the stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the sale, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. This trade represents a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the sale, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,963 shares of company stock valued at $1,748,845 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.