Cherrydale Wealth Management LLC Increases Stock Position in The Home Depot, Inc. $HD

Cherrydale Wealth Management LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 618 shares of the home improvement retailer’s stock after purchasing an additional 30 shares during the quarter. Cherrydale Wealth Management LLC’s holdings in Home Depot were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Client 1ST Advisory Group LLC boosted its stake in Home Depot by 1.5% during the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock valued at $688,000 after acquiring an additional 27 shares during the last quarter. Financial Insights Inc. boosted its stake in Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock valued at $323,000 after acquiring an additional 28 shares during the last quarter. Wayfinding Financial LLC boosted its stake in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock valued at $862,000 after acquiring an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC boosted its stake in Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after acquiring an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its stake in Home Depot by 0.3% during the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after acquiring an additional 28 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho increased their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Wells Fargo & Company increased their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Robert W. Baird increased their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. DA Davidson reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.60.

Home Depot Stock Down 0.7%

HD stock opened at $412.86 on Tuesday. 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 fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm’s 50-day simple moving average is $395.79 and its 200 day simple moving average is $373.58. The stock has a market cap of $410.96 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00.

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 analysts’ consensus estimates 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 analyst estimates of $45.43 billion. During the same period last year, the business earned $4.60 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares of the company’s stock, valued at $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is owned by company insiders.

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.