The Home Depot, Inc. $HD Stock Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.1% during the second quarter, HoldingsChannel.com reports. The firm owned 335,449 shares of the home improvement retailer’s stock after selling 310 shares during the period. Home Depot makes up about 0.5% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 27th largest holding. State of New Jersey Common Pension Fund D’s holdings in Home Depot were worth $122,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV purchased a new position in Home Depot during the second quarter valued at approximately $263,000. WealthPlan Investment Management LLC bought a new stake in Home Depot in the second quarter worth approximately $1,149,000. Tower View Wealth Management LLC grew 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 acquiring an additional 671 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Home Depot in the first quarter worth approximately $3,851,000. Finally, Shell Asset Management Co. grew its position in Home Depot by 45.2% in the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after acquiring an additional 15,002 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on HD. DA Davidson reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Morgan Stanley boosted their target price 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. Truist Financial boosted their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Oppenheimer boosted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research note on Thursday, September 25th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $435.42.

Home Depot Price Performance

NYSE:HD opened at $386.83 on Friday. The stock has a market cap of $385.04 billion, a P/E ratio of 26.28, a PEG ratio of 3.65 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a fifty day moving average price of $402.68 and a 200 day moving average price of $379.19. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders 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 of this dividend was Thursday, September 4th. Home Depot’s payout ratio is 62.50%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the 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 sale, the executive vice president owned 16,057 shares of the company’s stock, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company’s 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 transaction, the chief executive officer owned 122,425 shares in the company, 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. Insiders have sold 48,835 shares of company stock worth $19,623,432 in the last quarter. 0.10% of the stock is owned by corporate insiders.

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.