King Wealth Management Group Decreases Position in The Home Depot, Inc. $HD

King Wealth Management Group cut its holdings in The Home Depot, Inc. (NYSE:HD) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,465 shares of the home improvement retailer’s stock after selling 591 shares during the period. King Wealth Management Group’s holdings in Home Depot were worth $4,937,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot during the second quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in Home Depot in the second quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the 2nd quarter valued at $35,000. Global X Japan Co. Ltd. purchased a new position in Home Depot during the 2nd quarter valued at $40,000. Finally, GFG Capital LLC bought a new position in Home Depot in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HD shares. Truist Financial reduced their price target on shares of Home Depot from $454.00 to $421.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Oppenheimer raised their target price on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Wells Fargo & Company dropped their price target on Home Depot from $450.00 to $435.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley increased their price objective on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.00.

Home Depot Stock Down 0.9%

Shares of NYSE:HD opened at $367.70 on Friday. The stock has a fifty day simple moving average of $394.28 and a two-hundred day simple moving average of $381.65. The stock has a market capitalization of $366.00 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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 analysts’ consensus estimates of $4.69 by ($0.01). The company had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research 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 announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.5%. Home Depot’s payout ratio is 62.50%.

Insiders Place Their Bets

In other news, CFO Richard V. Mcphail sold 3,369 shares of the business’s stock in a transaction that occurred on 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 $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 3,837 shares in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,835 shares of company stock worth $19,623,432 in the last quarter. Insiders own 0.10% of the company’s stock.

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.