Cardinal Point Capital Management ULC Acquires Shares of 3,444 The Home Depot, Inc. $HD

Cardinal Point Capital Management ULC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,444 shares of the home improvement retailer’s stock, valued at approximately $1,263,000.

Several other institutional investors have also added to or reduced their stakes in HD. Mainstay Capital Management LLC ADV acquired a new position in Home Depot in the 2nd quarter valued at about $263,000. WealthPlan Investment Management LLC acquired a new position in shares of Home Depot during the second quarter valued at about $1,149,000. Tower View Wealth Management LLC boosted its holdings in Home Depot by 4.3% during 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 purchasing an additional 671 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Home Depot in the first quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. increased its holdings in Home Depot by 45.2% during the 2nd 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 during the period. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the 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 completion of the transaction, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This trade represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Down 1.0%

NYSE:HD opened at $385.06 on Friday. The firm has a market cap of $383.29 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The company has a 50-day moving average of $402.93 and a 200 day moving average of $378.83. 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 released its quarterly 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 firm had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period 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. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HD shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Wells Fargo & Company lifted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wolfe Research began coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price on the stock. Robert W. Baird boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Finally, Truist Financial boosted their price target 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. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $435.42.

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.