Canopy Partners LLC Trims Stake in The Home Depot, Inc. $HD

Canopy Partners LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 19.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,968 shares of the home improvement retailer’s stock after selling 477 shares during the quarter. Canopy Partners LLC’s holdings in Home Depot were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Asset Planning Services Inc. LA ADV grew its holdings in Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Nuveen LLC purchased a new stake in Home Depot in the first quarter worth about $2,076,592,000. Valeo Financial Advisors LLC grew its holdings in Home Depot by 16,746.9% in the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after purchasing an additional 4,510,944 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 worth $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Home Depot in the second quarter worth about $418,486,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.6%

NYSE:HD opened at $386.84 on Wednesday. The stock has a market cap of $385.06 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.69 and a beta of 1.00. The company’s 50 day moving average price is $403.07 and its 200-day moving average price is $376.85. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week 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.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 company 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%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given 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 62.50%.

Insider Activity at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. 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 that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade 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 valued at $19,623,432 over the last quarter. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HD shares. Robert W. Baird upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Wells Fargo & Company upped their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a report on Saturday, September 27th. Wolfe Research assumed coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target on the stock. Finally, Stifel Nicolaus increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $436.40.

Home Depot Company 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.