Broderick Brian C Trims Stake in The Home Depot, Inc. $HD

Key Points

• Broderick Brian C has reduced its stake in The Home Depot, Inc. by 3.2%, now holding 34,707 shares worth approximately $12.7 million.
• Analysts maintain a generally positive outlook on Home Depot, with a consensus "Moderate Buy" rating and an average price target of $436.40.
• Recent insider trading shows significant sales, with CFO Richard V. Mcphail selling 3,369 shares for about $1.36 million at an average price of $403.66.

Broderick Brian C lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,707 shares of the home improvement retailer's stock after selling 1,151 shares during the period. Home Depot accounts for about 2.5% of Broderick Brian C's investment portfolio, making the stock its 17th largest holding. Broderick Brian C's holdings in Home Depot were worth $12,725,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HD. Brighton Jones LLC boosted its holdings in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Home Depot by 4.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,698 shares of the home improvement retailer's stock valued at $622,000 after acquiring an additional 67 shares during the period. NewSquare Capital LLC boosted its stake in Home Depot by 181.4% during the first quarter. NewSquare Capital LLC now owns 287 shares of the home improvement retailer's stock worth $105,000 after acquiring an additional 185 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Home Depot by 2.9% in the first quarter. Pallas Capital Advisors LLC now owns 2,416 shares of the home improvement retailer's stock worth $885,000 after purchasing an additional 69 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Home Depot during the first quarter valued at approximately $13,856,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HD shares. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price target on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Home Depot in a report on Saturday, September 27th. Wells Fargo & Company increased their target price on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Mizuho lifted their price target on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $436.40.

Insider Buying and Selling

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction that occurred on Friday, September 12th. The shares were 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 of the company's stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 in the last ninety days. Corporate insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.6%

Home Depot stock opened at $386.84 on Wednesday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The business's fifty day moving average is $403.07 and its 200 day moving average is $376.85. The stock has a market capitalization of $385.06 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.69 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.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates 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%.Home Depot's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

About Home Depot

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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