Westfield Capital Management Co. LP Trims Stock Position in The Home Depot, Inc. $HD

Westfield Capital Management Co. LP trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,666 shares of the home improvement retailer’s stock after selling 1,312 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Home Depot were worth $2,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in Home Depot in the 2nd quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the second quarter worth approximately $35,000. Global X Japan Co. Ltd. purchased a new position in Home Depot during the 2nd quarter worth $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Home Depot during the 2nd quarter valued at approximately $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on HD. Wolfe Research initiated coverage on shares of Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. UBS Group decreased their target price on Home Depot from $475.00 to $445.00 and set a “buy” rating on the stock in a research report on Wednesday. Argus dropped their price objective on shares of Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Thursday. KGI Securities cut shares of Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 price target on the stock. in a research note on Wednesday. Finally, BNP Paribas Exane dropped their price objective on shares of Home Depot from $391.00 to $353.00 and set a “neutral” rating for the company in a research note on Wednesday. Twenty-one investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $410.24.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This represents a 8.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD opened at $343.22 on Friday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve 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. The firm has a market cap of $341.64 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.59 and a beta of 1.00. The company has a fifty day simple moving average of $385.34 and a 200 day simple moving average of $381.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Home Depot Company 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.