Chesapeake Wealth Management Sells 233 Shares of The Home Depot, Inc. $HD

Chesapeake Wealth Management cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,927 shares of the home improvement retailer’s stock after selling 233 shares during the quarter. Chesapeake Wealth Management’s holdings in Home Depot were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Home Depot by 7.2% in the 1st quarter. GAMMA Investing LLC now owns 27,932 shares of the home improvement retailer’s stock worth $10,237,000 after purchasing an additional 1,880 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Home Depot by 57.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,311 shares of the home improvement retailer’s stock worth $480,000 after purchasing an additional 476 shares in the last quarter. Optivise Advisory Services LLC lifted its holdings in Home Depot by 8.5% in the 1st quarter. Optivise Advisory Services LLC now owns 1,457 shares of the home improvement retailer’s stock worth $534,000 after purchasing an additional 114 shares in the last quarter. Finally, Hemenway Trust Co LLC lifted its holdings in Home Depot by 5.3% in the 1st quarter. Hemenway Trust Co LLC now owns 106,251 shares of the home improvement retailer’s stock worth $38,940,000 after purchasing an additional 5,331 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $388.49 on Thursday. The stock’s fifty day moving average is $403.59 and its 200 day moving average is $377.59. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $386.70 billion, a PE ratio of 26.39, a PEG ratio of 3.68 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the company posted $4.60 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. DA Davidson reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Wolfe Research started 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. Stifel Nicolaus upped their price objective on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. JPMorgan Chase & Co. decreased their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Finally, Oppenheimer upped their price objective on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $435.42.

Insider Activity 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 transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction 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 sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 in the last ninety days. Corporate 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.