Fourpath Capital Management LLC Cuts Stake in The Home Depot, Inc. $HD

Fourpath Capital Management LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,397 shares of the home improvement retailer’s stock after selling 96 shares during the period. Fourpath Capital Management LLC’s holdings in Home Depot were worth $3,079,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HD. Client 1ST Advisory Group LLC increased its position in shares of Home Depot by 1.5% in the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock valued at $688,000 after purchasing an additional 27 shares during the last quarter. Financial Insights Inc. raised its holdings in shares of Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock valued at $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC raised its holdings in shares of Home Depot by 1.2% in the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock valued at $862,000 after purchasing an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC raised its holdings in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 28 shares in the last quarter. Finally, First Interstate Bank raised its holdings in shares of Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after purchasing an additional 28 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction 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 sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction 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 sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. DA Davidson restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Stifel Nicolaus raised their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Finally, Mizuho upped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.42.

Home Depot Trading Down 0.5%

Shares of Home Depot stock opened at $375.86 on Friday. The company has a fifty day simple moving average of $403.54 and a 200-day simple moving average of $377.09. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a market cap of $374.13 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.58 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. 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. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

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.