Meyer Handelman Co. Sells 647 Shares of The Home Depot, Inc. $HD

Meyer Handelman Co. lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 123,711 shares of the home improvement retailer’s stock after selling 647 shares during the quarter. Home Depot accounts for approximately 1.5% of Meyer Handelman Co.’s investment portfolio, making the stock its 15th largest holding. Meyer Handelman Co.’s holdings in Home Depot were worth $45,357,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter worth $31,000. Iron Horse Wealth Management LLC increased its stake in Home Depot by 86.8% in 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 last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot during the second quarter valued at about $40,000. Compass Financial Services Inc bought a new stake in Home Depot during the first quarter worth about $41,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 2nd quarter worth about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Shares of Home Depot stock opened at $407.43 on Friday. The business has a 50 day moving average of $398.84 and a 200 day moving average of $374.32. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market cap of $405.55 billion, a PE ratio of 27.68, a P/E/G ratio of 3.88 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same period in the previous year, the firm posted $4.60 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on HD shares. Morgan Stanley increased their price objective on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Stifel Nicolaus increased their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Truist Financial lifted their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Mizuho upped their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Finally, TD Securities cut shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $436.40.

Insiders Place Their Bets

In other news, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. 0.10% of the stock is owned by corporate insiders.

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.