Canopy Partners LLC Sells 477 Shares of The Home Depot, Inc. $HD

Canopy Partners LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 19.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,968 shares of the home improvement retailer’s stock after selling 477 shares during the period. Canopy Partners LLC’s holdings in Home Depot were worth $722,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SGL Investment Advisors Inc. lifted its stake in shares of Home Depot by 0.9% during the 2nd quarter. SGL Investment Advisors Inc. now owns 16,246 shares of the home improvement retailer’s stock valued at $5,970,000 after buying an additional 147 shares in the last quarter. Independent Solutions Wealth Management LLC boosted its holdings in Home Depot by 1.0% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 8,716 shares of the home improvement retailer’s stock worth $3,195,000 after buying an additional 88 shares during the period. Shell Asset Management Co. boosted its holdings in Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after buying an additional 15,002 shares during the period. Godsey & Gibb Inc. boosted its holdings in Home Depot by 2.7% in the 2nd quarter. Godsey & Gibb Inc. now owns 61,712 shares of the home improvement retailer’s stock worth $22,626,000 after buying an additional 1,636 shares during the period. Finally, TriaGen Wealth Management LLC boosted its holdings in Home Depot by 20.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 2,420 shares of the home improvement retailer’s stock worth $887,000 after buying an additional 415 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot 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 completion of the transaction, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction dated 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 transaction, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock worth $19,623,432 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home Depot in a report on Saturday, September 27th. Mizuho raised their target price 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. Truist Financial raised their target price on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Stifel Nicolaus raised their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Finally, DA Davidson reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $436.40.

Home Depot Stock Performance

Shares of NYSE:HD opened at $386.84 on Wednesday. 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 capitalization of $385.06 billion, a P/E ratio of 26.28, a PEG ratio of 3.69 and a beta of 1.00. The firm has a fifty day simple moving average of $403.07 and a two-hundred day simple moving average of $376.85. 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 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 business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period in the previous year, the business earned $4.60 earnings per share. The business’s quarterly 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. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s payout ratio is currently 62.50%.

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.