Williams & Novak LLC Decreases Holdings in The Home Depot, Inc. $HD

Williams & Novak LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 26.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 733 shares of the home improvement retailer’s stock after selling 265 shares during the quarter. Williams & Novak LLC’s holdings in Home Depot were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HD. Legend Financial Advisors Inc. purchased a new stake in Home Depot in the 2nd quarter worth about $28,000. Abound Financial LLC purchased a new stake in Home Depot in the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC raised its position in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new stake in Home Depot in the 2nd quarter worth about $40,000. Finally, GFG Capital LLC purchased a new stake in Home Depot in the 2nd quarter worth about $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on HD. Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a research report on Wednesday. DA Davidson reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Mizuho upped their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their target price on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Robert W. Baird upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $435.42.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders 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 Price Performance

NYSE HD opened at $375.86 on Friday. 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 firm’s 50 day moving average price is $403.54 and its 200-day moving average price is $377.09. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market cap of $374.13 billion, a PE ratio of 25.53, a P/E/G ratio of 3.58 and a beta of 1.00.

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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the prior year, the business posted $4.60 earnings per share. Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s dividend payout ratio (DPR) is currently 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.