Carnegie Investment Counsel Cuts Stake in The Home Depot, Inc. $HD

Carnegie Investment Counsel cut its stake in The Home Depot, Inc. (NYSE:HD) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,714 shares of the home improvement retailer’s stock after selling 8,199 shares during the quarter. Carnegie Investment Counsel’s holdings in Home Depot were worth $31,426,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock valued at $35,360,494,000 after purchasing an additional 720,447 shares during the period. Charles Schwab Investment Management Inc. raised its position in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock valued at $5,282,398,000 after purchasing an additional 891,326 shares during the period. Price T Rowe Associates Inc. MD raised its position in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Home Depot by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer’s stock valued at $3,279,867,000 after purchasing an additional 477,192 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Home Depot by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 6,480,031 shares of the home improvement retailer’s stock valued at $2,374,866,000 after purchasing an additional 778,012 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 1.0%

Shares of Home Depot stock opened at $385.06 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 firm has a market cap of $383.29 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.69 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 business has a 50-day moving average price of $402.93 and a 200 day moving average price of $378.83.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). 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%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Insider Transactions at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the sale, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction dated 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 directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on HD. Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Oppenheimer lifted their target price on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. DA Davidson reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Finally, Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $435.42.

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.