Ameriflex Group Inc. Trims Position in The Home Depot, Inc. $HD

Key Points

• Ameriflex Group Inc. reduced its stake in The Home Depot by 41.9% during the second quarter, resulting in a holding of 1,206 shares valued at $438,000.
• Analysts maintain a positive outlook for Home Depot, with several brokerages reaffirming "buy" ratings and setting price targets ranging from $432.00 to $497.00.
• Home Depot declared a quarterly dividend of $2.30 per share, reflecting an annualized dividend of $9.20 and a yield of 2.3%.

Ameriflex Group Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 41.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,206 shares of the home improvement retailer's stock after selling 870 shares during the period. Ameriflex Group Inc.'s holdings in Home Depot were worth $438,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HD. Tower View Wealth Management LLC grew its stake in Home Depot by 4.3% in the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock worth $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd purchased a new stake in Home Depot in the first quarter worth $3,851,000. Financial Gravity Asset Management Inc. purchased a new stake in Home Depot in the first quarter worth $406,000. Arbor Capital Management Inc. ADV grew its stake in Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares during the period. Finally, Focus Partners Wealth grew its stake in Home Depot by 4.1% in the first quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer's stock worth $155,131,000 after purchasing an additional 16,654 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HD. DA Davidson reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Wolfe Research began coverage on Home Depot in a research note on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price target on the stock. Robert W. Baird upped their price target on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Stifel Nicolaus boosted their target price on Home Depot from $425.00 to $432.00 and gave the stock 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $436.40.

Home Depot Trading Down 0.0%

Home Depot stock opened at $394.88 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The business's fifty day simple moving average is $402.63 and its two-hundred day simple moving average is $376.21. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market capitalization of $393.06 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was 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 of the company's stock, 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 SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company's stock.

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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