Almanack Investment Partners LLC. Cuts Stock Holdings in The Home Depot, Inc. $HD

Almanack Investment Partners LLC. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,452 shares of the home improvement retailer’s stock after selling 179 shares during the period. Almanack Investment Partners LLC.’s holdings in Home Depot were worth $532,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mainstay Capital Management LLC ADV purchased a new position in Home Depot during the second quarter valued at $263,000. Tower View Wealth Management LLC lifted its position in Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after purchasing an additional 671 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Home Depot in the 1st quarter worth $3,851,000. Shell Asset Management Co. grew its stake in shares of 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Home Depot in the 1st quarter worth $406,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction dated 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 in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 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 owned 122,425 shares of the company’s stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Mizuho upped their price objective on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. DA Davidson restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Wells Fargo & Company upped their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Oppenheimer upped their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $435.42.

Home Depot Price Performance

Home Depot stock opened at $375.86 on Monday. The firm has a 50-day moving average price of $403.54 and a 200-day moving average price of $377.30. The firm has a market capitalization of $374.13 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. 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.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current 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 issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, September 4th. 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.