Townsend Asset Management Corp NC ADV Reduces Stock Holdings in The Home Depot, Inc. $HD

Townsend Asset Management Corp NC ADV reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,289 shares of the home improvement retailer’s stock after selling 372 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in Home Depot were worth $1,572,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Legend Financial Advisors Inc. acquired a new stake in Home Depot during the 2nd quarter valued at approximately $28,000. Abound Financial LLC acquired a new stake in Home Depot during the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC grew its stake in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in Home Depot during the 2nd quarter valued at approximately $40,000. Finally, Compass Financial Services Inc acquired a new stake in Home Depot during the 1st quarter valued at approximately $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Up 0.7%

HD opened at $410.16 on Friday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock’s fifty day moving average is $399.85 and its 200-day moving average is $374.61. The company has a market capitalization of $408.27 billion, a PE ratio of 27.86, a P/E/G ratio of 3.86 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) 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 company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the firm earned $4.60 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HD shares. Wells Fargo & Company raised their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Mizuho raised their price target on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Truist Financial raised their price target on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Stifel Nicolaus raised their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Finally, Robert W. Baird raised their price target on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $436.40.

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.