Belpointe Asset Management LLC Decreases Stock Position in The Home Depot, Inc. $HD

Key Points

• Belpointe Asset Management LLC reduced its stake in Home Depot by 12.4%, owning 13,554 shares after selling 1,916 shares, which valued their holdings at approximately $4.97 million.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have increased their positions in Home Depot, indicating strong institutional interest in the stock.
• Home Depot recently declared a $2.30 quarterly dividend, reflecting a 2.3% dividend yield and a payout ratio of 62.50% based on the latest financial results.

Belpointe Asset Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,554 shares of the home improvement retailer's stock after selling 1,916 shares during the period. Belpointe Asset Management LLC's holdings in Home Depot were worth $4,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Home Depot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after acquiring an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its position in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after purchasing an additional 1,494,261 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Home Depot by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer's stock valued at $3,279,867,000 after buying an additional 477,192 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HD. JPMorgan Chase & Co. decreased their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Truist Financial boosted their target price on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Home Depot in a report on Saturday, September 27th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $436.40.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 over the last three months. Company insiders own 0.10% of the company's stock.

Home Depot Stock Down 0.0%

NYSE HD opened at $394.88 on Monday. 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 P/E ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The company's 50 day simple moving average is $402.63 and its 200 day simple moving average is $376.51. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.50%.

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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