Addenda Capital Inc. Cuts Position in The Home Depot, Inc. $HD

Addenda Capital Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,527 shares of the home improvement retailer’s stock after selling 105 shares during the quarter. Addenda Capital Inc.’s holdings in Home Depot were worth $6,426,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of 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. AdvisorNet Financial Inc boosted its stake in Home Depot by 1.7% during the 1st quarter. AdvisorNet Financial Inc now owns 5,484 shares of the home improvement retailer’s stock valued at $2,010,000 after purchasing an additional 92 shares during the period. Rothschild Investment LLC raised its holdings in Home Depot by 1.1% in the 1st quarter. Rothschild Investment LLC now owns 27,430 shares of the home improvement retailer’s stock valued at $10,053,000 after acquiring an additional 302 shares in the last quarter. Doliver Advisors LP raised its holdings in shares of Home Depot by 3.1% in the 1st quarter. Doliver Advisors LP now owns 3,997 shares of the home improvement retailer’s stock worth $1,465,000 after buying an additional 120 shares in the last quarter. Finally, Legacy Financial Strategies LLC grew its position in Home Depot by 4.0% during the 1st quarter. Legacy Financial Strategies LLC now owns 785 shares of the home improvement retailer’s stock worth $288,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. TD Securities cut shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $436.40.

Insider Buying and Selling at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the business’s 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 of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at $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 a total of 48,835 shares of company stock valued at $19,623,432 over the last three months. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Price Performance

Shares of NYSE:HD opened at $410.16 on Friday. The company’s fifty day moving average is $399.85 and its 200 day moving average is $374.68. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market cap of $408.27 billion, a PE ratio of 27.86, a PEG ratio of 3.89 and a beta of 1.00. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot’s payout ratio is presently 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.