AlphaQuest LLC Sells 4,549 Shares of The Home Depot, Inc. $HD

Key Points

• AlphaQuest LLC significantly reduced its holdings in Home Depot by 63.6% during Q2, now owning 2,606 shares worth approximately $955,000 after selling 4,549 shares.
• Home Depot insiders, including EVP William D. Bastek and CFO Richard V. Mcphail, have sold significant amounts of stock recently, with insiders collectively selling 48,835 shares valued at around $19.6 million in the past 90 days.
• Home Depot's stock has received mixed analyst ratings, with an average price target of $435.42, following several adjustments from prominent firms, reflecting differing opinions on the company's market outlook.

AlphaQuest LLC reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 63.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,606 shares of the home improvement retailer's stock after selling 4,549 shares during the quarter. AlphaQuest LLC's holdings in Home Depot were worth $955,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HD. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $28,000. Abound Financial LLC acquired a new stake in shares of Home Depot in the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Finally, GFG Capital LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Home Depot news, 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 transaction of $1,551,900.09. Following the sale, the executive vice president directly owned 24,235 shares of the company's stock, valued at $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock worth $19,623,432 in the last ninety days. Corporate insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Mizuho lifted their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Wolfe Research initiated coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an "outperform" rating and a $497.00 target price on the stock. Oppenheimer lifted their target price on shares of Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research report on Thursday, September 25th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Home Depot in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $435.42.

Home Depot Stock Performance

NYSE:HD opened at $386.83 on Friday. The company has a fifty day moving average of $402.68 and a 200-day moving average of $379.51. The firm has a market capitalization of $385.04 billion, a P/E ratio of 26.28, a P/E/G ratio of 3.67 and a beta of 1.00. 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 Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The business 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 business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's payout ratio is 62.50%.

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.

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