Riverbend Wealth Management LLC Sells 329 Shares of The Home Depot, Inc. $HD

Riverbend Wealth Management LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,051 shares of the home improvement retailer’s stock after selling 329 shares during the quarter. Riverbend Wealth Management LLC’s holdings in Home Depot were worth $752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HD. Mainstay Capital Management LLC ADV acquired a new stake in Home Depot during the second quarter worth about $263,000. Tower View Wealth Management LLC lifted its position in Home Depot by 4.3% in the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd acquired a new stake in Home Depot during the first quarter worth $3,851,000. Shell Asset Management Co. increased 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 valued at $17,663,000 after buying an additional 15,002 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Home Depot in the 1st quarter valued at $406,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.2%

HD opened at $387.40 on Friday. 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 firm has a 50-day moving average price of $403.62 and a two-hundred day moving average price of $377.73. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a market capitalization of $385.61 billion, a PE ratio of 26.32, a PEG ratio of 3.68 and a beta of 1.00.

Home Depot (NYSE:HD) last announced 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 net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the business posted $4.60 earnings per share. The firm’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. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on HD. Wells Fargo & Company upped their target price 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. Oppenheimer raised their target price on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Truist Financial upped their price target on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $435.42.

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.