235,303 The Home Depot, Inc. $HD Shares Sold by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama cut its Home Depot holdings by 52.9%, selling 235,303 shares in the third quarter; it retained 209,104 shares valued at about $59.5 million.
• Analysts have a consensus “Moderate Buy” rating on HD, with an average price target of $375.45; recent targets ranged from $322 to $425.
• Home Depot’s latest reported quarter beat estimates, with EPS of $4.92 and revenue of $47.86 billion; revenue increased 5.7% year over year.

Retirement Systems of Alabama cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 52.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,104 shares of the home improvement retailer's stock after selling 235,303 shares during the period. Retirement Systems of Alabama's holdings in Home Depot were worth $59,488,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HD. Zeit Capital LLC purchased a new position in Home Depot during the 2nd quarter worth $26,000. Principia Wealth Advisory LLC raised its holdings in shares of Home Depot by 60.4% in the second quarter. Principia Wealth Advisory LLC now owns 85 shares of the home improvement retailer's stock valued at $30,000 after buying an additional 32 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Home Depot in the second quarter valued at about $32,000. Gould Capital LLC raised its holdings in shares of Home Depot by 58.7% in the first quarter. Gould Capital LLC now owns 100 shares of the home improvement retailer's stock valued at $33,000 after buying an additional 37 shares during the last quarter. Finally, Next Level Wealth Planning LLC acquired a new stake in shares of Home Depot during the third quarter worth about $28,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

More Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Insiders Place Their Bets

In other news, EVP Michael F. Rowe sold 710 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total transaction of $239,099.60. Following the completion of the transaction, the executive vice president directly owned 6,838 shares of the company's stock, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Kimberly R. Scardino sold 675 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $305.95, for a total value of $206,516.25. Following the transaction, the chief accounting officer directly owned 8,189 shares of the company's stock, valued at approximately $2,505,424.55. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,829 shares of company stock worth $3,339,314 over the last quarter. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on HD. JPMorgan Chase & Co. raised their price target on Home Depot from $396.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group restated a "buy" rating on shares of Home Depot in a research report on Thursday, September 17th. Melius Research set a $397.00 price objective on Home Depot in a research note on Tuesday, October 6th. Guggenheim reaffirmed a "buy" rating and set a $425.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. Finally, Stifel Nicolaus lowered their target price on Home Depot from $346.00 to $322.00 and set a "hold" rating on the stock in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $375.45.

Home Depot Stock Up 3.0%

HD stock opened at $353.77 on Tuesday. The Home Depot, Inc. has a one year low of $277.15 and a one year high of $397.63. The stock has a market capitalization of $352.95 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.53 and a beta of 0.93. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The company has a fifty day moving average of $309.90 and a 200-day moving average of $333.92.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The business had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.24 billion. During the same quarter in the previous year, the firm earned $4.68 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were given a $2.33 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.6%. Home Depot's dividend payout ratio (DPR) is presently 65.22%.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.

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