The Home Depot, Inc. $HD Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 27.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,424 shares of the home improvement retailer’s stock after selling 7,614 shares during the quarter. Home Depot comprises approximately 0.7% of Concentric Capital Strategies LP’s holdings, making the stock its 25th biggest holding. Concentric Capital Strategies LP’s holdings in Home Depot were worth $7,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Brighton Jones LLC lifted its holdings in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after buying an additional 565 shares in the last quarter. Algert Global LLC lifted its holdings in Home Depot by 19.1% in the 4th quarter. Algert Global LLC now owns 1,907 shares of the home improvement retailer’s stock worth $742,000 after buying an additional 306 shares in the last quarter. Crestline Management LP lifted its holdings in Home Depot by 6.5% in the 4th quarter. Crestline Management LP now owns 2,749 shares of the home improvement retailer’s stock worth $1,069,000 after buying an additional 168 shares in the last quarter. Finally, Cornerstone Select Advisors LLC acquired a new position in Home Depot in the 4th quarter worth $297,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HD shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Royal Bank Of Canada cut their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. TD Securities lowered shares of Home Depot to a “buy” rating in a research note on Monday, June 2nd. Robert W. Baird upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company upped their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $432.52.

Insider Activity

In related news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock valued at $18,648,987 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD opened at $407.06 on Thursday. The firm has a market cap of $405.18 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 3.86 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company’s 50-day moving average price is $383.23 and its 200 day moving average price is $371.33. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last released its quarterly earnings data 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). 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%.Home Depot’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.60 EPS. 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 earnings per share for the current year.

Home Depot Dividend Announcement

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

Home Depot 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.