Forza Wealth Management LLC Decreases Stock Holdings in The Home Depot, Inc. $HD

Forza Wealth Management LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,155 shares of the home improvement retailer’s stock after selling 85 shares during the quarter. Forza Wealth Management LLC’s holdings in Home Depot were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the second quarter worth $28,000. Abound Financial LLC bought a new stake in Home Depot in the first quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its holdings in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 46 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in Home Depot in the second quarter valued at $40,000. Finally, Compass Financial Services Inc bought a new stake in Home Depot in the first quarter valued at $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock opened at $405.25 on Wednesday. The stock has a market cap of $403.38 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 3.86 and a beta of 1.00. The firm’s 50-day moving average is $401.39 and its 200 day moving average is $375.46. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD) last issued its earnings results 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 business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period last year, the firm posted $4.60 EPS. Home Depot’s quarterly 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. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HD shares. Oppenheimer lifted their price target on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. DA Davidson restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Wolfe Research initiated coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Finally, Wells Fargo & Company boosted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $436.40.

Insider Activity

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