Allworth Financial LP Cuts Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Allworth Financial reduced its Home Depot stake by 2.6% in the second quarter, selling 5,640 shares and retaining 207,716 shares valued at approximately $73.3 million. Institutional investors collectively own 70.86% of the company.
• Wall Street remains broadly positive, with 18 analysts rating Home Depot a Buy, 13 a Hold and one a Sell; the stock has a “Moderate Buy” consensus and an average price target of $375.54.
• Home Depot beat quarterly earnings and revenue expectations, while shares opened at $313.58 after a 2.3% decline. The company also declared a quarterly dividend of $2.33, equivalent to a 3.0% annualized yield.

Allworth Financial LP lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,716 shares of the home improvement retailer's stock after selling 5,640 shares during the period. Allworth Financial LP's holdings in Home Depot were worth $73,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of Home Depot by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 276,374 shares of the home improvement retailer's stock worth $97,472,000 after acquiring an additional 3,622 shares during the period. Edge Wealth Management LLC increased its stake in Home Depot by 0.4% in the 2nd quarter. Edge Wealth Management LLC now owns 27,779 shares of the home improvement retailer's stock valued at $9,797,000 after purchasing an additional 115 shares in the last quarter. West Family Investments Inc. raised its holdings in Home Depot by 59.2% during the second quarter. West Family Investments Inc. now owns 3,490 shares of the home improvement retailer's stock worth $1,231,000 after purchasing an additional 1,298 shares during the last quarter. Empirical Finance LLC raised its holdings in Home Depot by 3.3% during the second quarter. Empirical Finance LLC now owns 36,530 shares of the home improvement retailer's stock worth $12,883,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Home Depot during the second quarter worth $105,326,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. The Goldman Sachs Group dropped their price target on Home Depot from $409.00 to $390.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. UBS Group decreased their price objective on shares of Home Depot from $430.00 to $420.00 and set a "buy" rating on the stock in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $423.00 to $396.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Morgan Stanley lowered their price objective on shares of Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Finally, Citigroup dropped their target price on shares of Home Depot from $450.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average target price of $375.54.

Insider Activity at Home Depot

In related news, EVP Michael Rowe sold 710 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the transaction, the executive vice president directly owned 6,838 shares in the company, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard McPhail sold 5,989 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the transaction, the chief financial officer directly owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 9,154 shares of company stock worth $3,132,798. 0.08% of the stock is currently owned by insiders.

Home Depot Trading Down 2.3%

Home Depot stock opened at $313.58 on Wednesday. The stock has a 50-day moving average price of $337.98 and a 200 day moving average price of $335.09. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The stock has a market cap of $312.86 billion, a PE ratio of 21.94, a P/E/G ratio of 3.53 and a beta of 0.95. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $47.24 billion. During the same quarter in the previous year, the business posted $4.68 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be given a $2.33 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. Home Depot's payout ratio is currently 65.22%.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer that sells building materials, appliances, decor, hardware, tools, paint, lawn and garden products, and related merchandise. The company serves do-it-yourself customers, professional contractors, homebuilders, and other commercial customers through its retail stores and digital platforms.

Home Depot also provides services such as equipment and tool rental, delivery, installation, and project support. Its professional-focused offerings include job-lot quantities, specialized products, credit services, and account support designed for contractors and other trade customers.

Founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah, the company is headquartered in Atlanta, Georgia.

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