Alliancebernstein L.P. Sells 160,389 Shares of The Home Depot, Inc. $HD

Key Points

• Alliancebernstein L.P. has sold 160,389 shares of The Home Depot, Inc., reducing its stake by 1.8% to own 8,891,702 shares, which represents approximately 1.2% of its portfolio.
• The Home Depot reported a quarterly earnings miss with $4.68 EPS, falling short of the consensus estimate of $4.69, while revenue was $45.28 billion compared to the estimated $45.43 billion.
• The company declared a quarterly dividend of $2.30 per share, with an annualized yield of 2.3%, and the dividend will be paid on September 18th to shareholders of record on September 4th.

Alliancebernstein L.P. lessened its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,891,702 shares of the home improvement retailer's stock after selling 160,389 shares during the period. Home Depot makes up 1.2% of Alliancebernstein L.P.'s portfolio, making the stock its 13th biggest position. Alliancebernstein L.P. owned approximately 0.89% of Home Depot worth $3,258,720,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. AQR Capital Management LLC increased its stake in Home Depot by 44.2% during the 1st quarter. AQR Capital Management LLC now owns 216,960 shares of the home improvement retailer's stock valued at $78,231,000 after buying an additional 66,502 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Home Depot by 1.9% in the first quarter. Advisors Asset Management Inc. now owns 90,649 shares of the home improvement retailer's stock worth $33,222,000 after buying an additional 1,691 shares during the period. Alexis Investment Partners LLC boosted its holdings in shares of Home Depot by 1.6% in the first quarter. Alexis Investment Partners LLC now owns 3,422 shares of the home improvement retailer's stock worth $1,235,000 after buying an additional 54 shares during the period. Alight Capital Management LP acquired a new position in shares of Home Depot in the first quarter worth about $5,497,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Home Depot in the first quarter worth about $33,507,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Buying and Selling

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction dated 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 directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the sale, the executive vice president directly owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock worth $18,648,987 in the last three months. Company insiders own 0.10% of the company's stock.

Home Depot Stock Up 1.7%

HD traded up $7.01 during midday trading on Friday, hitting $418.70. 5,854,063 shares of the company's stock traded hands, compared to its average volume of 3,533,561. The company has a market cap of $416.77 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.97 and a beta of 1.00. The stock's fifty day simple moving average is $385.21 and its 200-day simple moving average is $371.29. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period in the prior year, the firm earned $4.60 EPS. The firm's 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. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot's payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Mizuho raised their price target on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Wells Fargo & Company raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $432.52.

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.