Alliancebernstein L.P. Decreases Stock Holdings in The Home Depot, Inc. $HD

Alliancebernstein L.P. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,891,702 shares of the home improvement retailer’s stock after selling 160,389 shares during the period. Home Depot makes up approximately 1.2% of Alliancebernstein L.P.’s holdings, making the stock its 13th biggest holding. Alliancebernstein L.P.’s holdings in Home Depot were worth $3,258,720,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Home Depot by 44.2% during the 1st quarter. AQR Capital Management LLC now owns 216,960 shares of the home improvement retailer’s stock worth $78,231,000 after acquiring an additional 66,502 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Home Depot by 1.9% during the 1st quarter. Advisors Asset Management Inc. now owns 90,649 shares of the home improvement retailer’s stock worth $33,222,000 after acquiring an additional 1,691 shares in the last quarter. Alexis Investment Partners LLC raised its holdings in shares of Home Depot by 1.6% during the 1st quarter. Alexis Investment Partners LLC now owns 3,422 shares of the home improvement retailer’s stock worth $1,235,000 after acquiring an additional 54 shares in the last quarter. Alight Capital Management LP purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $5,497,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $33,507,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Evercore ISI set a $400.00 price target on Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Mizuho lifted their target price on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group reduced their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $432.52.

Insider Buying and Selling

In other Home Depot news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The stock was 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 directly owned 3,837 shares of the company’s stock, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock worth $18,648,987 over the last 90 days. 0.10% of the stock is owned by insiders.

Home Depot Stock Down 0.1%

Home Depot stock opened at $406.41 on Wednesday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a market capitalization of $404.53 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.86 and a beta of 1.00. The business has a 50 day simple moving average of $382.33 and a 200-day simple moving average of $371.08.

Home Depot (NYSE:HD) last issued its quarterly 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 firm 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 firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot’s dividend payout ratio is 62.50%.

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.