The Home Depot, Inc. $HD Shares Sold by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,289 shares of the home improvement retailer’s stock after selling 372 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in Home Depot were worth $1,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in Home Depot in the second quarter valued at approximately $28,000. Abound Financial LLC purchased a new stake in Home Depot in the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC lifted 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 buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot during the second quarter worth approximately $40,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Home Depot during the first quarter worth approximately $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Mizuho upped their price target on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Oppenheimer upped their price target on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research note on Thursday. Wolfe Research began coverage on Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price objective on the stock. DA Davidson reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $436.40.

Home Depot Stock Up 0.7%

Home Depot stock opened at $410.16 on Friday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The firm has a market capitalization of $408.27 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 3.86 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock’s fifty day moving average is $399.85 and its two-hundred day moving average is $374.61.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot’s dividend payout ratio is 62.50%.

Insider Activity

In related news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares in the company, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% 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 in the last three months. Company insiders own 0.10% of the company’s stock.

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.