Carderock Capital Management Inc. Trims Stock Holdings in The Home Depot, Inc. $HD

Carderock Capital Management Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,379 shares of the home improvement retailer’s stock after selling 906 shares during the quarter. Home Depot comprises 1.9% of Carderock Capital Management Inc.’s portfolio, making the stock its 27th biggest holding. Carderock Capital Management Inc.’s holdings in Home Depot were worth $7,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 46 shares during the period. Compass Financial Services Inc purchased a new position in shares of Home Depot in the first quarter valued at about $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the second quarter valued at about $41,000. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock worth $42,000 after acquiring an additional 30 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were 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 of the company’s stock, valued at $9,941,924.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the executive vice president owned 16,057 shares of the company’s stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Wolfe Research began coverage on Home Depot in a research note on Thursday. They set an “outperform” rating and a $497.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Robert W. Baird upped their price objective on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Finally, Mizuho increased their target price on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $435.00.

Home Depot Stock Up 0.2%

Shares of NYSE HD opened at $417.66 on Friday. The company has a market cap of $415.73 billion, a P/E ratio of 28.37, a PEG ratio of 3.95 and a beta of 1.00. The firm has a 50-day simple moving average of $394.02 and a two-hundred day simple moving average of $373.24. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. 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 issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The business 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 quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is currently 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.