AMF Tjanstepension AB Cuts Stock Position in The Home Depot, Inc. $HD

Key Points

• AMF Tjanstepension AB decreased its stake in The Home Depot, Inc. by 63.1%, selling 93,639 shares in the second quarter, which left it holding 54,682 shares valued at approximately $20.07 million.
• The Home Depot recently reported earnings of $4.68 EPS for the quarter, slightly missing analysts' expectations, with revenue of $45.28 billion, an increase of 4.9% year-over-year.
• The company has announced a quarterly dividend of $2.30, resulting in an annualized dividend yield of 2.3%, with a payout ratio of 62.50%.

AMF Tjanstepension AB trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 63.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,682 shares of the home improvement retailer's stock after selling 93,639 shares during the quarter. AMF Tjanstepension AB's holdings in Home Depot were worth $20,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in Home Depot in the second quarter valued at approximately $28,000. Abound Financial LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its position 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 worth $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Home Depot during the 2nd quarter worth $40,000. Finally, Compass Financial Services Inc acquired a new position in Home Depot during the 1st quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

NYSE HD opened at $394.88 on Friday. The firm has a market capitalization of $393.06 billion, a P/E ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The stock has a 50-day simple moving average of $402.63 and a two-hundred day simple moving average of $376.21. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the business earned $4.60 earnings per share. 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. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, September 4th. Home Depot's payout ratio is currently 62.50%.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the transaction, the chief executive officer owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 in the last three months. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HD. Mizuho boosted their price target on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Robert W. Baird boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Morgan Stanley raised their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company upped their target price on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average target price of $436.40.

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.

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