Newman Dignan & Sheerar Inc. Trims Stock Holdings in The Home Depot, Inc. $HD

Newman Dignan & Sheerar Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 4,796 shares of the home improvement retailer’s stock after selling 119 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Home Depot were worth $1,758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HD. Ransom Advisory Ltd acquired a new stake in shares of Home Depot during the first quarter worth $3,851,000. Financial Gravity Asset Management Inc. acquired a new position in Home Depot in the first quarter valued at $406,000. Wealth Management Partners LLC lifted its position in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after buying an additional 36 shares during the period. Arbor Capital Management Inc. ADV boosted its stake in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock worth $1,757,000 after buying an additional 221 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in Home Depot by 4.1% in the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock valued at $155,131,000 after buying an additional 16,654 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Morgan Stanley upped their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Mizuho lifted their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report 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 note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. cut their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $436.40.

Insider Activity at Home Depot

In other news, EVP Angie Brown sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Down 1.9%

Shares of NYSE HD opened at $397.46 on Thursday. The stock has a fifty day moving average price of $401.81 and a 200 day moving average price of $375.61. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market cap of $395.63 billion, a P/E ratio of 27.00, a P/E/G ratio of 3.84 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 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 for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The company’s revenue for the quarter 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. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot’s dividend payout ratio (DPR) 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.