Eastern Bank Cuts Stock Holdings in The Home Depot, Inc. $HD

Eastern Bank decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,478 shares of the home improvement retailer’s stock after selling 2,311 shares during the quarter. Eastern Bank’s holdings in Home Depot were worth $35,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Client 1ST Advisory Group LLC boosted its stake in Home Depot by 1.5% in the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock worth $688,000 after buying an additional 27 shares in the last quarter. Financial Insights Inc. boosted its stake in Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after buying an additional 28 shares in the last quarter. Wayfinding Financial LLC boosted its stake in Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after buying an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC boosted its stake in Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock worth $228,000 after buying an additional 28 shares in the last quarter. Finally, First Interstate Bank boosted its stake in Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock worth $3,306,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $375.86 on Friday. 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 company has a market cap of $374.13 billion, a PE ratio of 25.53, a P/E/G ratio of 3.58 and a beta of 1.00. The business has a 50 day moving average of $403.54 and a 200 day moving average of $377.09. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results 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 business had revenue of $45.28 billion for 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 was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.60 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

Several analysts have issued reports on HD shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Truist Financial upped their target price on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Wells Fargo & Company boosted their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus boosted their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.42.

Insider Activity at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 over the last 90 days. Company insiders own 0.10% of the company’s stock.

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.