Axxcess Wealth Management LLC Sells 9,854 Shares of The Home Depot, Inc. $HD

Key Points

• Axxcess Wealth Management LLC reduced its Home Depot stake by 18.2% in the first quarter, selling 9,854 shares and leaving it with 44,259 shares worth about $14.56 million.
• Despite the sale, institutional ownership remains high, with about 70.86% of Home Depot shares held by institutional investors overall.
• Wall Street remains broadly positive on Home Depot, with a Moderate Buy consensus rating and an average price target of $371.71; the company also recently beat quarterly EPS and revenue estimates and maintained a 2.7% dividend yield.

Axxcess Wealth Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 18.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,259 shares of the home improvement retailer's stock after selling 9,854 shares during the quarter. Axxcess Wealth Management LLC's holdings in Home Depot were worth $14,556,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Curio Wealth LLC grew its holdings in Home Depot by 13.5% in the fourth quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock worth $76,000 after purchasing an additional 26 shares during the period. Westfuller Advisors LLC lifted its holdings in shares of Home Depot by 2.1% during the fourth quarter. Westfuller Advisors LLC now owns 1,325 shares of the home improvement retailer's stock valued at $456,000 after purchasing an additional 27 shares during the last quarter. Darwin Wealth Management LLC boosted its position in shares of Home Depot by 0.5% in the 4th quarter. Darwin Wealth Management LLC now owns 4,949 shares of the home improvement retailer's stock worth $1,703,000 after purchasing an additional 27 shares in the last quarter. Alesco Advisors LLC grew its stake in shares of Home Depot by 3.2% in the 4th quarter. Alesco Advisors LLC now owns 866 shares of the home improvement retailer's stock worth $298,000 after buying an additional 27 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida grew its stake in shares of Home Depot by 1.3% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock worth $749,000 after buying an additional 27 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. Argus reduced their price objective on Home Depot from $425.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Bank of America began coverage on Home Depot in a report on Tuesday, May 5th. They issued a "buy" rating and a $374.00 target price on the stock. Weiss Ratings downgraded Home Depot from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, June 23rd. Wall Street Zen raised Home Depot from a "sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Home Depot in a research report on Monday, June 29th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $371.71.

Home Depot Stock Performance

HD stock opened at $345.35 on Wednesday. The stock has a market capitalization of $344.35 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 4.05 and a beta of 0.95. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The stock's 50 day simple moving average is $324.37 and its 200 day simple moving average is $345.65.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.02. The firm had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company's revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 annualized dividend and a yield of 2.7%. Home Depot's dividend payout ratio is currently 66.19%.

Home Depot Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

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