Bright Rock Capital Management LLC Has $1.83 Million Holdings in The Home Depot, Inc. $HD

Key Points

• Bright Rock Capital Management LLC reduced its holdings in The Home Depot by 66.7%, owning 5,000 shares valued at approximately $1.83 million after selling 10,000 shares in the second quarter.
• Insiders, including CFO Richard V. Mcphail, sold a total of 48,835 shares valued at nearly $19.6 million in recent transactions.
• Home Depot's stock reported a slight increase of 0.2% despite missing earnings estimates, with a current consensus rating of "Moderate Buy" and an average target price of $435.00.

Bright Rock Capital Management LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 66.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,000 shares of the home improvement retailer's stock after selling 10,000 shares during the quarter. Bright Rock Capital Management LLC's holdings in Home Depot were worth $1,833,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Client 1ST Advisory Group LLC boosted its holdings in Home Depot by 1.5% in the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock worth $688,000 after acquiring an additional 27 shares during the period. Invst LLC raised its position in shares of Home Depot by 0.4% during the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after acquiring an additional 28 shares in the last quarter. Financial Insights Inc. raised its position in shares of Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares in the last quarter. Wayfinding Financial LLC increased its position in Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after buying an additional 28 shares during the period. Finally, Pure Portfolios Holdings LLC increased its position in Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Down 0.4%

Home Depot stock traded down $1.71 during mid-day trading on Friday, hitting $415.77. The company's stock had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The firm's 50 day moving average is $394.94 and its 200 day moving average is $373.48. The company has a market cap of $413.85 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.96 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, September 4th. Home Depot's payout ratio is currently 62.50%.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. Robert W. Baird increased their target price on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Truist Financial increased their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. TD Securities cut Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. One 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's stock. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $435.00.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred 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 owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was 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 in the company, valued at $48,629,658.50. This represents a 21.18% 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 in the last quarter. Corporate insiders own 0.10% of the company's stock.

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.