Hardy Reed LLC Has $3.99 Million Stake in The Home Depot, Inc. $HD

Hardy Reed LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,868 shares of the home improvement retailer’s stock after selling 58 shares during the quarter. Hardy Reed LLC’s holdings in Home Depot were worth $3,985,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new position in shares of Home Depot in the second quarter worth $28,000. Abound Financial LLC acquired a new stake in Home Depot during the first quarter worth about $31,000. Iron Horse Wealth Management LLC increased its holdings in Home Depot by 86.8% in the 1st 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 period. Global X Japan Co. Ltd. bought a new position in Home Depot in the 2nd quarter valued at about $40,000. Finally, Compass Financial Services Inc acquired a new position in shares of Home Depot in the 1st quarter valued at approximately $41,000. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Down 1.4%

Shares of HD stock opened at $389.56 on Tuesday. The firm has a market capitalization of $387.76 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.75 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The stock’s fifty day simple moving average is $402.88 and its 200 day simple moving average is $376.78.

Home Depot (NYSE:HD) last posted its 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 during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on HD shares. DA Davidson reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Morgan Stanley raised their target price on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Mizuho upped their price objective on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Finally, Oppenheimer raised their price objective on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $436.40.

About Home Depot

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.