Beech Hill Advisors Inc. Sells 1,061 Shares of The Home Depot, Inc. $HD

Key Points

• Beech Hill Advisors Inc. reduced its stake in The Home Depot by 10.9% during the second quarter, holding 8,717 shares valued at approximately $3.2 million.
• The Home Depot reported an earnings per share (EPS) of $4.68 for its most recent quarter, slightly below analyst expectations, with quarterly revenue of $45.28 billion, which also missed estimates.
• The company declared a quarterly dividend of $2.30 per share, translating to an annualized dividend yield of 2.4%.

Beech Hill Advisors Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,717 shares of the home improvement retailer's stock after selling 1,061 shares during the quarter. Home Depot accounts for 1.4% of Beech Hill Advisors Inc.'s portfolio, making the stock its 26th biggest holding. Beech Hill Advisors Inc.'s holdings in Home Depot were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legend Financial Advisors Inc. purchased a new position in Home Depot in the second quarter worth about $28,000. Abound Financial LLC bought a new stake in shares of Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Home Depot in the 2nd quarter worth approximately $40,000. Finally, GFG Capital LLC bought a new position in Home Depot in the 2nd quarter valued at approximately $40,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

NYSE:HD opened at $388.91 on Tuesday. The company has a market capitalization of $387.12 billion, a P/E ratio of 26.42, a P/E/G ratio of 3.72 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The business's 50-day moving average is $403.72 and its 200 day moving average is $378.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same period in the previous year, the business earned $4.60 earnings per share. The business's quarterly 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 research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

In related news, EVP William D. Bastek sold 2,303 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,835 shares of company stock valued at $19,623,432. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Home Depot in a research report on Wednesday, October 8th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Wolfe Research assumed coverage on shares of Home Depot in a research note on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price target for the company. Truist Financial raised their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley increased their price target on Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus target price of $435.42.

Home Depot 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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